24/7 Wall St. evaluates the cost of many major holidays and events in an attempt to measure what the economic contribution is. The National Retail Federation has a 2014 Easter Spending Survey which was conducted by Prosper Insights & Analytics on this matter. Again, the total economic impact of each holiday seems under-calculated. The 2014 Easter tally in America is put at $137.46 as the spending tally per average American, lower than the $145.13 spent in 2013. This puts the 2014 value at $15.9 billion, versus the projection of $17.2 billion in 2013.

What stands out the most here is that the year 2013 was one that was referred to as an Easter of frugality. So what does that say about 2014? Would it be frugality on top of frugality?

Another interesting observation is being made in 2014: Fewer Americans will celebrate this year, at 80.3% in 2014 versus 83% in 2013. The NRF projected that some 85.7% of those celebrating Easter will spend an average of $43.18 on a holiday meal, totaling $5 billion.

Other items that the retail group included are as follows:

• 42.9 percent will purchase new spring attire spending an average of $22.71; total spending on apparel is expected to reach $2.6 billion.
• Roughly 9 in 10 will buy Easter candy, spending a total of $2.23 billion on their children’s favorite sweet treats. This was put as $19.33 net per average buyer in adults 18 and over.
• Gifts will be tallied at $235 billion. This was $35.16 per average buyer, but with only 57.9% expected to buy gifts it comes to a $20.36 net average per buyer in adults 18 and older.
• Flowers will be tallied at $1.07 billion. In adults 18 and over, this was $23.50 on average, but only 36.5% expect to spend here for a net average of $9.24 per person.
• Decorations are assigned a value of $1.1 billion. Adults 18 and older buying decorations would be spending $23.49 on average. However, with only 38.8% expected to spend on decorations, the net average is down at $9.12 as a net average per person.
• Greeting cards were assigned a value of $701 million. This comes to $12.89 on average, and the 47% average of adults 18 and over expected to buy cards comes to a net average spend of $6.06 per person.

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Discount stores are expected to be the biggest winners with 61.5% of respondents using them for Easter gifts in 2014 (versus 63.4% in 2013). Department stores get 38.1% (versus 40.7% in 2013). Specialty stores will be used by 22.3% of adults 18 and older, compared with 24.9% in 2013. Online spending will be used by 19.1%, down from 21.1% in 2013).

NRF President and CEO Matthew Shay said,

“The winter doldrums left consumers with a lot of pent-up demand, and though many Americans may take a cautious approach to spending on Easter items this year, retailers are anticipating that warmer weather will easily put consumers in the mood to buy bright clothes, holiday decorations and more. As one of the biggest holidays of the year, retailers are looking forward to increased customer traffic in stores and online, and will roll out promotions on everything from garden supplies and patio sets to apparel and grocery items as they help their customers prepare for the holiday.”

Prosper Insights and Analytics Director Pam Goodfellow said,

“Americans are eager to dip their toes in the fresh green grass this Easter and celebrate the day with friends and family. Though they are planning to trim their budgets in terms of spending on food, clothes and gifts, most will look for personal and fun items that won’t break the bank in order to enjoy the day.”

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The 2014 Easter spending poll of consumers was conducted from March 4 to Mrch 11, with answers coming from 6,387. It is listed as having a margin of error of plus or minus 1.3 percentage points.

As far as why this poll is under-counted in the total impact by the 24/7 Wall St. view, the NRF does not tally up gasoline, hotels, airfare, and other spending. The NRF data is calculating the tally for spending tied directly to Easter. It would be far higher if you simply used the increased economic spending as a holiday where people are out spending rather than working.

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