Consumers projected to spend over $22 billion on Easter this year
COLUMBIA, Mo. (KMIZ)
As Easter Sunday is quickly approaching, some folks may still be getting some preparations done for the holiday, and it could cost them more than expected.
According to a survey conducted by the National Retail Federation, consumer spending for the holiday is projected to sum up to $22.4 billion.
The survey also found the average adult will spend about $177, the third highest per-person spending since the organization started collecting data. In 2023, shoppers spent an average of $192.
The survey stated that most of the money spent on the holiday will go towards food and candy (89%). 62% will be spent on gifts, 49% on clothes and 48% on decorations, according to the report.
Decorating Easter eggs, a staple tradition, may also cause shoppers to spend more than anticipated.
The average price of eggs right now is about three dollars for a dozen. While that price is lower than last year, it is still much higher than before the pandemic, when eggs cost an average of $1.45.
In addition, chocolate prices are also on the rise. Retail chocolate prices rose more than 11% in 2023 and future cocoa prices are up 250% compared to last March.
