NRF says shoppers to spend more on clothing this Easter
16 Mar '06
3 min read
US apparel and other retailers can expect increased traffic in stores this Easter period due to the holiday falling later in the year.
The Washington-based association stated that a survey conducted by BIGresearch for NRF showed that 77.6 percent of Americans plan to celebrate Easter, up marginally from the previous year (75.9 percent).
Total Easter spending is expected to reach $12.63 billion in 2006, a significant increase from the $9.6 billion spent in 2005. This year, the average shopper expects to spend $121.72 on Easter, up from $96.51 in 2005.
A major factor for the rise in consumer spending this Easter has to do with the holiday falling later in the spring season. Consumer spending on apparel is expected to increase greatly over the previous year, when the holiday fell on March 27, the earliest Easter in 16 years.
According to the survey, 41.2 percent of consumers plan to purchase clothing for the upcoming holiday, compared to only 29.4 percent in 2005. Of those that will be purchasing apparel, the average consumer plans to spend $55.50. In comparison, of those that bought apparel for Easter in 2005, the average consumer spent $49.95.
NRF President and Chief Executive Officer, Tracy Mullin said, “After a long, cold winter, consumers are ready to pack away their scarves and gloves and hit the stores for their Spring wardrobe. The seasonal weather should allow many apparel retailers to breathe a sigh of relief.”
Consumers between the ages of 35-44 are once again expected to spend the most on Easter this year ($134.42).
marketing@alchempro.com
