March 31, 2012
The National Retail Federation (NRF) has released some estimated retail statistics for US consumer spending in the 2012 Easter period. This could be noted as more positive economic indicators, with projected spending to increase for this year’s season. Retail entrepreneurs and business owners should tune-in to lucrative events in the annual calendar, as all pose to be potentially lucrative if you tap into some niche retail areas.
Here are some highlights on 2012 estimated US retail spending around Easter, based on a NRF survey:
- Estimated average spending on retail merchandise, food, candy: $145.28
- 2012 estimated average spending is up by +11% over 2011 ($131.04)
- Total estimated retail spending for Easter 2012: A big $16.8 Billion
Here are the biggest categories in a breakdown of the estimated retail spending around Easter 2012:
- Fashion & Accessories: $3.0 Billion
- Easter Candy: $2 Billion
- Easter meals & food: $5.1 Billion
- Easter gifts & cards: $2 Billion
It is interesting to note that the average estimate spending is $44.34 for Easter meals, $20.57 for Easter Gifts, $10.50 on flowers, $9.07 for Easter decor, and from the half that buy greeting cards, an average of $7.04 on greeting cards.
Some interesting trends are highlighted in this NRF survey around how and where consumers will shop:
- 63.5% will shop at the local discount store
- 42.6% will shop at a department store for gifts; highest percent in the survey’s history
- 8.7% will shop online, represents a 4% increase over last year
- 25.4% will shop at a specialty retail store
Similar to other calendar events, Easter consumer retail spending can bring significant revenues to your business, if you target customers in niche areas. If you are in retail in these areas, do not overlook the power of retail during special periods. Plan well in advance for periods of retail opportunities.
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