Wednesday March 17, 2010

Easter Spending Expected To Rise

Washington — The average person intends to spend $17.29 on candy for Easter this year, compared to $16.55 in 2009, according to the National Retail Federation (NRF).

The NRF 2010 Easter Consumer Intentions and Actions Survey predicts overall spending for the holiday will reach $13.03 billion. Other categories are likely to see increases in sales, with consumers spending an average of $37.45 on food, $6.30 on greeting cards and $18.16 on gifts.

When shopping for Easter merchandise, 64.8 percent of the 8,281 respondents say they will buy from discount stores, while 33.2 percent plan to shop at department stores. Twenty-two percent say they will shop at specialty stores, 13.1 percent will shop online, and 3.7 percent will buy from catalogs.

The NRF suggests 25- to 34-year-olds will spend the most this Easter at $136.79. According to the survey, 71.3 percent of young adults ages 18 to 24 will buy gifts in 2010, compared with 65.8 percent of 25- to 34-year-olds and 65.5 percent of 35- to 44-year-olds.