Sunday, March 24, 2013

Easter 2013 Spending by the Numbers

Based on the National Retail Federation’s (NRF) 2013 Easter Consumer Intentions and Actions survey, the average consumer is expected to spend $145.13 on everything from candy to clothes this Easter, down slightly from last year following successive years of double-digit increases.
“With a plethora of budgetary concerns already on their plates, Americans this Easter will look for special, creative ways to celebrate the holiday without breaking the bank,” said NRF President and CEO Matthew Shay. “And as spring weather rolls in, consumers will find affordable ways to spruce up their homes and wardrobes, just in time for visiting family and friends this Easter holiday. Retailers are already lining their shelves with specials on chocolates, warm-weather apparel and even gardening tools and outdoor furniture.”
Overall spending is expected to rise for the third straight year to $17.2 billion, up just 2.7% over 2012 but 35% higher than recession-era levels from 2009, with nearly 45% of total spending expected to come from sales of food and candy. The NRF estimates Easter is the 5th-biggest spending holiday behind Christmas, Back-to-School and just slightly smaller than Valentine’s and Mother's Day.



63.4% of shoppers said they will be heading to discount stores for Easter wares, making it the most popular destination, followed by department stores (40.7%) and specialty stores (24.9%) including greeting card & gift stores, florists, jewelry and electronics stores.

21.1% of American will head online to do their Easter shopping, compared to 18.7% in 2012 and just 11.4% in 2009, and web shoppers are expected to spend an average of $237.64, or 63% more than the overall Easter shopper according to Shop.org.

Mobile devices will have a significant impact on purchases, both online and in-store – 58.6% of survey respondents own smart-phones and 34.7% own tablets. About half of smartphone and tablet owners plan on using their devices to research/compare prices, purchase products, look up retailer information and use apps to research and purchase products.

In terms of demographics, the average male shopper ($156.81) will out-spend women ($134.09) across every category; those making more than $50k ($171.25) will spend significantly more in each category and overall than those making less than $50k ($118.07); and shoppers aged 25-34 ($172.72) and 35-44 ($176.84) will be the top spenders.

Food is the top category as 86.9% shoppers plan to spend on meals ($45.26) and sales are expected to reach $5.363 billion, while 90.5% of Americans will buy candy this Easter, spending an average of $20.66. With expected sales of $2.448 billion, the National Confectioners Association says Easter is the second top-selling confectionery holiday behind only Halloween.

The NPD Group estimates that 207 million Americans, including nearly 60 million children, celebrate Easter, with 58% of adults buying Easter candy. The research firm notes that the majority of adults (60%) don't being shopping until a week before the holiday, so there is still ample time for marketers to grab a share of the multi-billion dollar spending spree.
“The Easter holiday is a time for family — immediate and extended — which enables food manufacturers and retailers to connect with consumers via family imagery and themes,” says Darren Seifer, food & beverage industry analyst. “Creating marketing and merchandising plans that inspire earlier interest, activities, and even gifting will lead to added excitement around the holiday and greater spending.”
While shoppers won’t necessarily splurge on flowers ($9.49 average/$1.124 billion total) and greeting cards ($6.74 average/$799 million total): The Society of American Florists estimates the Easter/Passover period accounts for 13% of Holiday transactions and 10% of dollar volume, the fourth highest behind Christmas/Chanukah, Mother’s Day and Valentine’s Day, while Hallmark reports Americans send 57 million greeting cards for Easter, fifth most on the holiday calendar.

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