NRF expects sales to head up this year
It looks like small businesses are going to benefit from two “up” holidays in a row. Less than a week after the National Retail Federation predicted that people will spend more on St. Patrick’s day this year than last, the organization issued another forecast suggesting that Easter will also be more profitable.
The NRF (along with BIGresearch, which actually conducted the study by interviewing about 8,300 people) has the average American on record as spending $116.59 to celebrate Easter last year. Which is a rather impressive amount.
This year, though, the NRF believes the average consumer will spend $118.60, or roughly 1.7 percent more. And most of this money should be spent on food, clothing, gifts, candy, flowers, decorations, and greeting cards (with those categories listed in order of most money spent to least).
Tracy Mullin, the president and CEO of the NRF, explained the increase in a statement by saying, “With signs of spring popping up everywhere, shoppers are eager to get their hands on bright, colorful Easter merchandise. Warmer weather and special holiday promotions are the perfect mix to get people out of their homes and into stores as spring approaches.”
Then here’s one more thing to keep in mind as Easter approaches: young people, and not older folks with bigger incomes and grandkids to spoil, are supposed to be the biggest purchasers. The NRF thinks 25-34-year-olds will shell out $136.79, while 18-24-year-olds will spend $125.85.
Phil Rist, an executive vice president at BIGresearch, said in response to these somewhat surprising findings, “Often living in another state because of college or a career, young adults feel compelled to bring candy for the little ones and even greeting cards for others when visiting for Easter.”
Hopefully these trends will lead to all small businesses having a good Easter. Of course, small businesses that take the NRF’s specific predictions into account when prepping for the holiday may fare even better than average.