Easter is just around the corner, and with Americans anticipated to spend $16.4 billion this year, it has become one of the most commercialized holidays of the year and a period that businesses throughout the country look forward to as they see a spike in their sales volume on and around this special holiday.
Businesses hope to shake off winter blues and look forward to one of the most profitable holiday seasons of the year.
Between chocolate eggs, jelly beans and pastel fashions; Easter is now one of the few gift giving holidays some consumers are willing to open their wallets and stretch their budgets.
|EASTER BY THE NUMBERS|
This makes the Easter holiday a tremendous time not only for restaurants and candy stores, but also retailers and small businesses that know how to take advantage of the potential windfall this popular holiday offers.
1. How Much Do Consumers Spend on Easter?
American consumers of all ages will be taking part in Easter holiday festivities this year and millions will hit the stores to buy their favorite Easter items. This year, Easter is expected to rake in more than $16 billion, with the average shopper spending about $141. This makes it rank among the holidays that generate the biggest spending.
The chart above shows the historical trend in total Easter spending in the United States since 2005. You will see that spending on this family holiday has grown significantly (almost doubling in 10 years) from less than $10 billion in 2005 to over $16 billion in 2015.
2. How Much Does the Average Person Spend on Easter?
As total consumer spending grows, the average American celebrating the holiday will be dedicating about $141 towards Easter purchases, which is slightly higher than last year’s $137.
Interactive charts: Easter Trends & Statistics
But who will spend the most on Easter this year? Let’s take a look at how various demographic groups stack up against each other.
- Men spend more than Women: Gender weighs on the price tag of Easter, as men will spend an average of $154, compared to the $128 women will spend.
- Young adults spend the most: 25 to 34 year-olds are a key demographic as they plan to dish out an average of $173 on Easter-related purchases, close to double the average amount adults 65 and older expect to spend ($103).
- Northeast is where the money is: Geographic location plays a role in how much you’ll spend. Residents of the Northeast are the biggest spenders, doling out $164. People in the midwest on the other hand, will spend the least at $126.
In short, Men, young adults and people who live in the Northeast are prime targets for businesses that are looking to boost their revenues this Easter. If you would like to learn more, you can review trends in more details using our interactive charts here.
3. What Do Consumers Buy for Easter?
One of the most important things for businesses is to cater to the trends of consumer demand. Knowing what your customers are looking to buy gives you a huge leg up and can make a real difference in whether your business has a profitable Easter or not. To help put you on the right track, let’s take a look at just what Americans will be buying for Easter:
The chart above gives a clear indication of what Easter shoppers will be spending their money on during Easter 2015. It comes as no surprise that the overwhelming majority of those who will celebrate Easter this year plan to stock up on Chocolate bunnies, Marshmallow Eggs and other sweet treats.
The shopping list includes:
- Clothing: Because Easter traditionally marks the ceremonial start to spring and warmer weather, a majority of consumers will be looking to take advantage of retail discounts to buy new clothing. This means that Cash registers will be ringing at clothing stores across the nation, with total spending on apparel expected to hit $2.9 billion this Easter.
- Food: For restaurants, Easter represents one of the five busiest days of the year (the others being Mother’s Day, Father’s Day, Valentine’s Day and New Year’s Eve). This year, Americans will dish out approximately $5 billion Americans on family dinners or Sunday brunch out, each spending about $53.
- Candy: Candy stores are in for a treat: From chocolate bunnies to yellow marshmallow peeps, Americans will spend about $2.2 billion on sugary confectionery (or an average of $22 per shopper); making Easter the second most candy-eating day of the year after Halloween.
- Flowers: A third of Easter shoppers will spend more than $1 billion on Flowers (or an average of $25 per person), which makes it one of the most popular times of the year for flower sales.
So with that in mind, use this knowledge to your advantage so you are aware of what items you need to stock up on and make more money without permanently changing your business model.
4. Where Do Consumers Spend Their Easter Dollars?
The NRF Survey also goes to show that when it comes to buying Easter merchandise, one thing is clear: despite all the hubbub over e-commerce, Easter shoppers still prefer to buy in a brick-and-mortar store. This is great news for Small Business owners who look to engage with their customers on a more human level.
Discount stores and department stores will see the most Easter traffic this year and have already begun stocking their shelves in anticipation of the big day.
- Discount stores: With a laundry list of items to buy, 6 out of 10 Americans will head to discount stores for their Easter shopping, making them -by far- the most popular shopping destination.
- Department Stores: Close to half of consumers will visit their favorite department stores to buy gifts and other holiday merchandise.
- Local / Small Businesses: Local stores can expect a nice treat with a bump in sales as 1 in 4 Easter shoppers plan to visit a local or small business to fulfill their Easter shopping needs.
- Online: e-Commerce websites have been experiencing steady growth over the past few years. This Easter, 1 in 5 consumers have indicated they will order online. that’s up from 13% just 5 years ago.
Easter is also critical time for apparel retailers and specialty clothing stores as they look to entice shoppers with deals on spring apparel and other holiday merchandise.
5. How To Boost Sales on Easter?
No matter how people in your area choose to celebrate Easter; this family holiday is a great opportunity to place your products and services top of mind with customers. If you dedicated enough time and effort to develop a creative promotional strategy, you will not only be able to promote and get your business noticed, but also drive traffic to your storefront and convert visitors into actual customers who make a purchase.
To help you seize the lucrative opportunity this upbeat and cheerful holiday offers and turn it into a source of profits, here are a few tips that are sure to make your business stand out and convince customers to stop and shop.
RUN A SPECIAL EASTER PROMOTION
Just like every major holiday, Easter deserves some special offers and promotions in its own right. Having a dedicated Easter special time-limited offer will encourage potential customers to respond immediately and gives them a real motivation to come in and spend money in your store. On top of that, a special Easter deal is an excellent way to align your business, service or product with the spirit of the season.
EMBRACE AND DISPLAY YOUR EASTER SPIRIT
Regardless of what products or services you offer, using the right designs and colors can help you better communicate your offering to potential customers. For Easter, start by setting the proper tone and turn your promotional campaigns into profitable sales by theming your marketing materials to mark the occasion.
ORGANIZE AN EASTER EVENT / CONTEST
Holding a family-focused event (like an Easter egg hunt or photos with the Easter Bunny) is a great marketing tool that is guaranteed to drive traffic to your door. And while kids always seem to have all the Easter fun, everybody loves Egg Hunts, including adults. So to capitalize on this and bring visitors to your store you can organize one where participants stand a chance of winning a gift certificate or one of the items you sell.
LAUNCH AN EASTER SOCIAL MEDIA CAMPAIGN
Piggybacking on the holiday spirit provides tech-savvy business with a great way to tap into the buzz this fun holiday generates, and capture the attention of their audiences by connecting with them on a more human level. Posting useful and fun holiday-themed content has a better chance of going viral since it relates to a topic that users are already thinking about.