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Retail Revenue for Easter to Reach $22.4B: NRF

The figure is below last year’s record-setting sales.

Published

1 month ago

March 27, 2024

INSTORE Staff

Retail Revenue for Easter to Reach $22.4B: NRF

PHOTO: ISTOCKPHOTO

Americans are expected to spend $22.4 billion on Easter this year, according to a report from the National Retail Federation (NRF).

While the figure is the second-highest recorded in the NRF’s history, it is under last year’s total, which set the record at $24 billion in total sales. However, the NRF notes that Easter fell later in the year in 2023, which could account for more time for consumers to shop.

Eighty-one percent of Americans will celebrate Easter this year, which is on trend from last year. Shoppers are expected to spend, on average, $177.06 per person – the third-highest figure seen after 2023 (at $192.01 per person) and 2021 (at $179.70 per person).

Food sales are expected to be the top earner at $7.3 billion, with clothing ($3.5 billion) and gifts ($3.4 billion) following behind, respectively. Candy sales will reach about $3.1 billion while flower purchases will reach $1.6 billion, according to the NRF’s report.

Discount stores (53 percent) are expected to be the top destination for Easter spending with department stores (40 percent), online (33 percent), small businesses (22 percent) and specialty stores (20 percent) to follow, respectively.

“Different areas of the country are expecting different weather conditions in the week leading into this year’s March 31st Easter,” Evan Gold, EVP at Planalytics said in the report’s release. “Warmer-than-normal temperatures in New England and parts of the Midwest open a window of opportunity from an Easter-on-Easter comp perspective for retailers to capitalize on favorable weather-driven demand for spring apparel and outdoor categories in these regions. Furthermore, shoppers across the country’s eastern half will feel as if springtime has returned with temperatures rebounding from this week’s cold snap.”

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