Survey suggests holiday sales will reach $18.4 billion

WASHINGTON – Easter will come nearly three weeks later this year than in 2016, and the National Retail Federation forecasts that the extra time will translate into higher sales for American retailers.

According to NRF’s annual survey conducted by Prosper Insights & Analytics, spending for Easter is expected to reach $18.4 billion this year, up 6% over last year’s record $17.3 billion and a new all-time high in the survey’s 14-year history. Those celebrating plan to spend an average of $152 per person, up 4 percent from last year’s previous record of $146.

“Most consumers have almost an entire extra month to shop for Easter this year, and by the time the holiday comes the weather should be significantly warmer than last Easter,” NRF President and CEO Matthew Shay said in a statement. “That should put shoppers in the frame of mind to splurge on spring apparel along with Easter decorations. With the economy improving, consumers are ready to shop and retailers are ready to offer great deals whether they’re buying Easter baskets or garden tools.”

According to the survey, consumers will spend $5.8 billion on food (purchased by 87% of shoppers), $3.3 billion on clothing (50%), $2.9 billion on gifts (61%), $2.6 billion on candy (89%), $1.2 billion on flowers (39%), $1.1 billion on decorations (43%) and $788 million on greeting cards (48%).

The 50% of consumers planning to buy clothing is up from 45% last year and is the highest level in a decade while the $3.3 billion expected to be spent is up 9% from last year.

In terms of shopping destinations, 58% of consumers say they will head to discount stores, 46% will go to department stores and 26% will shop at local small businesses. In addition, 27% will shop online, up from 21% last year. Among smartphone owners, 28% will research products on their devices while 18% will use their phones to make a purchase, while another 9% will use apps to do their research or purchase products.

“Easter continues to be a traditional holiday for consumers of all ages, especially young families who are planning to spend a bit more for this celebration,” Prosper Principal Analyst Pam Goodfellow said. “With the later timing of Easter, we will see more consumers shopping for special deals, especially on apparel and decorations.”