Peter Cottontail is going to make a lot of retailers happy on Florida’s Bunny Trail this year, even in the face of economic turbulence, according to the Florida Retail Federation (FRF).
Shoppers are projected to spend a record amount of money during the Easter Season as the religious holiday arrives on April 5. The National Retail Federation (NRF) forecasts a total of $24.9 billion will be spent on Easter this which would amount to a record. If that figure holds true, that would break the previous record of Easter spending of $24 billion set in 2023.
And that Easter spending will end up putting a little extra in the Easter baskets for Florida retailers.
“Easter is a time for family, fun and festivities, and Florida shoppers are hopping at the chance to make the holiday special,” said Scott Shalley, President and CEO of the FRF. “Florida retailers are ready with unique gift ideas to fill your loved ones’ baskets.”
An NRF survey found 80% of consumers across the nation will celebrate Easter in some fashion this year and they’ll be spending money to help mark the occasion.
The top purchases according to the NRF survey will include 92% of shoppers spending money on sweets. Another 90% will buy food specifically for the holiday while another 64% will spend on gifts, 53% on decorations and 51% on clothing.
The NRF survey was conducted between March 2 – 11 just as the war in Iran was getting underway and rising gasoline prices were just starting to escalate. The NRF used Prosper Insights & Analytics to collect the data from the 7,845 adults questioned in the survey.
The NRF report said shoppers are enthusiastic about getting merchandise for the Easter holiday.
“While economic uncertainty remains on the minds of many, consumers are still focused on holiday celebrations like Easter,” NRF Chief Economist and Executive Director of Research Mark Mathews said. “Holidays provide an important opportunity for families to reconnect and create lasting memories, even as economic conditions fluctuate.”
