Although most are celebrating and prepared to part with nearly the same amount of money they did in 2021, inflation will affect how consumers spend on the Easter holiday this year, according to a survey by the National Retail Federation.
About 80% of consumers in the United States plan to celebrate the holiday and spend an average of $169.79 this year on Easter items, according to results of an annual survey released by the NRF and Prosper Insights & Analytics. Americans anticipate spending a collective $20.8 billion, a figure down slightly from last year’s forecast of $21.6 billion.
With 51% of consumers planning in-person celebrations, up from 43% in 2021, food will account for the largest spending category at $53.61, followed by gifts at $28.04 and clothing at $27.93.
Inflation concerns are driving consumers to seek the most value they can for the dollar when shopping for the Easter holiday, NRF noted. If they find in shopping that the price of an Easter-related item is higher than expected, 42% of consumers said they would look for it at another retailer and 31% would find an alternative such as another brand or color. Half of holiday shoppers plan to purchase gifts at discount stores, about the same proportion as last year with 41% focusing on department stores and 35% on digital shopping.
Fewer consumers will celebrate the holidays virtually, down to 13% in 2022.
“Consumers are eager to return to their pre-pandemic holiday traditions, particularly as it relates to purchasing food and gifts for in-person celebrations this Easter,” said NRF President and CEO Matthew Shay. “Friends and family want to be together, and consumers are willing to spend money to make these events memorable.”
