Americans plan to spend more than ever on Easter this year, according to one survey.
Easter spending is estimated to hit $17.3 billion this year, or $146 per person on average, according to a survey from the National Retail Federation. That’s up from $140.62 last year and marks the highest level in the survey’s 13-year history.
Collectively, Americans plan to spend the most on food at $5.5 billion, followed by $3 billion on clothes, $2.7 billion on gifts, $2.4 billion on candy and $1.2 billion on flowers.
The majority of consumers (58 percent) plan to do their Easter shopping at discount stores, while 41 percent will go to department stores. Almost a quarter will visit local small business, and just over a fifth intend to shop online, according to the NRF.
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Millennials will spend more than any other generation on Easter, shelling out $176.90 on average, according to a separate survey from the International Council of Shopping Centers. Gen Xers plan to spend $127 and Baby Boomers say they will spend $113.70 on average. Overall, three in five American adults will spend money on Easter-related products this year.
More than half of Americans (55 percent) are planning to celebrate Easter by cooking a holiday meal, according to the NRF survey. For those making an Easter feast, the traditional baked ham will cost markedly less this year compared with 2015. Prices for bone-in ham are down 20 percent versus a year ago, according to the most recent figures from the federal government.
But egg-dyeing is more expensive, thanks to a bird flu that affected a significant number of egg-laying hens last year. Prices for eggs increased 8 percent compared with 2015, which will affect 31 percent Americans who plan on having an Easter egg hunt this year, according to the NRF.
