HOLIDAY SHOPPING IS HERE …..ARE CONSUMERS WAITING UNTIL AFTER ELECTION RESULTS?

The National Retail Federation (NRF) conducted a survey last week, and found that more than 25% of shoppers say the election will affect their spending.  43% of consumers also state they are being more cautious with their spending because of election uncertainty.

Retailers are seeing this effect and are making adjustments. Target and Wal-Mart are adjusting their holiday season marketing ahead of November 8.

In addition, retailers are challenged to get their marketing messages out amid all of the election noise. “Everywhere you turn — whether you’re picking up a newspaper or watching television — political advertisements are taking up ad space that retailers typically use to get holiday shopping on the minds of consumers across the country,” NRF President and CEO Matthew Shay said.

Once November 9 rolls around, the NRF predicts the holiday shopping season will kick up. The NRF is still predicting a 3.6% increase in retail spending in November and December, which would make 2016 the most successful holiday shopping season in years. This forecast is in alignment with other predictions from Deloitte, RetailNext and Kantar retail, reports CNBC. This spike is expected regardless of who wins the presidency.

Source: WSJ, NRF, CNBC

BRING ON THE HOLIDAYS….AND ECOMMERCE SHOPPING

To gear up for what is expected to be a very high e-commerce driven holiday shopping period, UPS says it will hire 95,000 seasonal workers this year, and FedEx Corp will hire close to 150,000. Overall retail hiring is expected to be the same as last year’s high numbers, but a shift to preparing for high online sales with those jobs is clear. Target Corp announced plans to hire 70,000 workers at distribution and fulfillment centers, up 15% from last year.

eMarketer announced survey results that found while moderate growth of 3.3% is expected for holiday retail overall, ecommerce is anticipated to make its biggest jump since 2011, up 17.2%. 71% of shoppers polled said they would make some to all of their gift purchases online. Rubicon Project found similar results in their survey, finding 73% of respondents will shop online, and that 22% of shoppers plan to do all of their holiday shopping online. The report shows that online shoppers will spend 64% on gift cards, 57% on apparel and accessories, 46% on toys and 37% on technology.

Cyber Monday is on track to produce higher results than Black Friday. A shift in the holiday calendar this year is also expected to help retailers. Christmas falls on a Sunday rather than a Friday like last year, giving last minute shoppers an extra Saturday to shop. Hanukkah begins 18 days later than in 2015, which should help generate sales in the latter part of December.

Source: NRF Smartbrief, Chain Store Age, Drug Store News, Fortune

CANADIAN CLOTHING SALES ARE ON THE RISE

The National Retail Federation (NRF) reported today that Canadians are spending more on clothing, footwear and accessories. Statistics Canada released a report that total retail sales in the clothing segment totaled $41.9 billion in 2015, a 38% increase from a decade ago.

During that decade, many retailers exited the Canadian retail market, such as Maxx Canada and Aeropostale. Stores still in the market that primarily sell clothing and accessories made up for 67% of the sales. Retailers of sporting goods, books and music saw their clothing business increase by 50%.

The Statistics Canada report noted that although many retailers closed, most were replaced by higher-end stores. Women’s clothing and accessories totaled $17 billion of the $42 billion, while men’s clothing and accessories were at $9.4 billion. Footwear was right behind at $7.1 billion and luggage and jewelry had $4.4 billion in sales.

Source: NRF Smartbrief, CTV News

BACK TO SCHOOL AND COLLEGE SALES HELP RETAIL SUMMER SLUMP

Back to School sales helped raise retail sales by .3% over the previous week and 2.5% over one year ago, following a four-week decline in June into July. Expectations are that Back to School sales will rise another 2.5% from July through September, which will be a successful repeat of the 2015 season.

Discounters and wholesale clubs were the strongest contributors to the rise in sales last week, with focus on electronics, clothing, shoes and books. Back to School season is highly promotional as retailers clear inventory for the upcoming holiday season. The National Retail Federation expects total spending to reach $75.8 billion, up from $68 billion in 2015. 60.5% of consumers plan to shop in discount stores, followed by 59.6% shopping in department stores. This rising trend over 2015 is significant, as 2015 was a drop from 2014’s splurge year by consumers in the Back to School/Back to College season.

Source: WWD.com, NRF

JUNE RETAIL SALES LOOK GOOD FOR DEPARTMENT STORES

Department stores and general merchandise stores helped June have a strong increase in retail sales. Department stores rose .7% to $13.2 billion and general merchandise stores rose .4% to $56.1 billion. Overall, retail sales rose .6% in June, to $457 billion, above economists’ expectations for the month.

“June’s retail sales grew at a solid pace on the heels of a strong showing for both May and April,” said Jack Kleinhenz, chief economist at the National Retail Federation. “Consumer spending has rebounded strongly in the second quarter after two weak previous quarters. Additional job gains and rising wages are supporting the strength in retail sales and should provide momentum going into the second half of 2016.”

Apparel and accessories stores had a slight decline of a 1% drop in sales to $21.1 billion. Those clothing stores did have a strong May.

Economists are optimistic for a continued strong second half of the year, and expect back to school sales growth slightly higher than was seen last year.

Source: WWD.COM

Data Analytics Among Strategies to Combat Loss in Omnichannel

With new technologies hitting the market on a regular basis, the retail industry is constantly evolving. Most retailers now operate in a technologically sophisticated omnichannel environment that includes strategies to enhance selling, including online, mobile retail and social media marketing.

In a 2015 retail industry survey conducted by PricewaterhouseCoopers, findings revealed that technology is making it more difficult for retailers to prevent, detect and manage loss.

“At the core of omnichannel is the concept that a customer can securely purchase and receive their product in any manner they desire,” Zawoyski says. “For many retailers with legacy pre-omnichannel operations and systems, ensuring secure and dynamic customer purchasing and fulfillment is a significant challenge. Beyond the well-documented data breaches and information security risks, many retailers struggle with ensuring supply chain inventory accuracy.”

According to the PwC report, many companies haven’t fully integrated new technologies that are needed to combat loss in omnichannel effectively. One key recommendation for the report: Retailers should embrace the process of root cause analysis while increasing their use of data analytics to better spot and mitigate shrink. Zawoyski says 59 percent of respondents reported they are employing data analytics and end-to-end root cause analysis as a primary tool to identify losses.

One of the many strategies that PwC suggests to enhance root cause analysis is to leverage data analytics.

“Effectively leveraging advanced analytics and end-to-end root cause analysis allows retailers to assess, strategize, plan and deploy risk mitigation programs,” says Zawoyski.

Sources: National Retail Federation: STORES magazine, June 2016, PricewaterhouseCoopers

Overregulation: Burdening America's Small Retailers

In an effort to gauge the views of small business retailers on the overall economic environment, the health of their individual businesses and the impact of public policies, the National Retail Federation commissioned a survey that was conducted online by GfK in December 2015 and January 2016.  752 small business owners participated and they represented a balance among demographic factors including gender, age, political ideology and geographic location.

The survey found that government regulation is a consistent point of difficulty for small retail businesses. Eight out of ten stated that government regulations actually weaken the appeal of owning a small business, and seven out of ten retail small business owners feel overwhelmed by rules and mandates on how they operate their business. The infographic below shows a sneak peak of the study and the full report is available on the NRF website at https://nrf.com/resources/retail-library/overregulation-burdening-americas-small-retailers.

Source: nrf.com

CONGRATULATIONS 2016 GRADUATES! GRAD GIFT SPEND HIGHEST IN 10 YEARS!

The National Retail Federation (NRF) reports that 2016 graduation spending will reach a 10-year high this year, with spending expected to reach $5.4 billion. Americans celebrating high school and college graduations give special gifts, and retailers are offering a lot of options for the best gifts possible. Retailers will need to keep graduation gift items up front and in stock, and advertise locally for shoppers who look online before going shopping.

NRF’s 2016 Graduation Spending Survey revealed the average person buying graduation gifts will spend $106.45, up 3.9% from last year. Each individual graduate should not get too excited, though – the average shopper is buying for 2 graduates this year, so the spend is higher but spread out among more recipients.

Not helping retailers is the fact that cash is the most popular gift, given by 56%. Greeting cards, with the cash inside, will make up 39% of spend. This is followed by gift cards at 31%, clothing at 14% and electronics at 11%.

While the amount of spend averages $106.45, the age group of the gift giver makes a difference. Spending by those aged 45-54 will average $120.74, compared with $78.08 from those 18-24.

Source: NRF.com 

WILL IT BE A HAPPY MOTHER’S DAY FOR RETAIL? WILL IT TOP 2015 RECORD-BREAKING TOTALS?

In 2015, 84.2% of American celebrated Mother’s Day, spending an average of $173 per person, totaling spend of $21.2 billion. This was the highest spending per person, up from $163 in 2014. Will 2016 be a strong year for retail Mother’s Day sales? Expectations are that Mother’s Day spending will be similar to last year’s record-breaking totals. 7,000 consumers surveyed by the NRF (National Retail Federation) said they will spend the most on jewelry, followed by outings (lunch/dinner/brunch), flowers and gift cards.

Department and Specialty stores had the highest retail traffic in Mother’s Day sales last year, followed closely by online sales and discount stores:

Source: Fundivo, MarketWatch

Taking the Guesswork Out Of Online Sizing

It’s a challenge all clothing retailers have to face: excessive returns based on poor fit. According to a 2015 report by The Retail Equation and backed by NRF data, “fit” is the stated reason for nearly 11% of all merchandise returns. The associated costs include processing, sorting, repackaging and remarketing the item, and they’re a headache every apparel retailer would like to avoid.

Now there is a tool that offers help to customers looking for a perfect fit, all while creating an informational bridge between consumers and clothing manufacturers. Fittery.com offers a tool for men that finds clothes that fit them across a wide selection of brands based on their body type, fit preferences and measurements. The site has been live since September and is well positioned for growth.

Upon visiting the site for the first time shoppers are asked for basic information such as weight, height and body silhouette, plus waist and collar measurements. The process also asks them to identify their fit preference through images rather than words.

“We’ve done a lot of research, and found that different people have different concepts of what a slim or a classic fit might be,” says CEO Catherine Iger. “Pictures, as opposed to words, result in greater accuracy.”

The customer’s information is matched to the precise sizes of garments available through Fittery.com such as Thomas Pink, J.Crew, Boden and Lands’ End. Customers are shown choices that are best for their body based on exact product dimensions in the Fittery.com database. Customers can also measure themselves with a tape measure while being coached with a short tutorial video. “Either way, the process is 96.3 percent accurate,” Iger says.

The sizing technology is only currently available for dress and casual men’s shirts.  Future plans include expansion into slacks, sport coats and more. Fittery.com also offers an array of accessory items, including ties, messenger bags and sunglasses, also through affiliated retailers.

Women’s clothing is planned for a future rollout. “We’re careful to expand our offerings slowly so that the data can be gathered completely and the algorithms can be adequately tested so we’re confident in their reliability,” Iger says.

Source: NRF.com

NRF SAYS CONSUMERS PLANNING TO SPRING INTO RETAIL SPENDING ON ST. PATTY’S DAY AND EASTER

With two big spring holidays upon us in March, the National Retail Federation reports that consumer spending appears to be on the rise. The NRF conducted two consumer surveys that indicate that trend is coming. According to its annual St. Patrick’s Day Spending Survey, over 125 million Americans will spend $4.4 billion on today’s holiday. 56.5% of those celebrating will purchase food and beverages, 28% will buy apparel or accessories, 23.3% will buy decorations and 17.2% will buy candy.

According to the NRF Easter Spending Survey, consumers plan to shop at 13-year high levels. The holiday is expected to reach spending of $17.3 billion. Half of that spending will be on clothing, gifts and flowers. “Retailers are beginning one of their busiest times of year and are more than ready as consumers shop for Spring essentials, “NRF President and CEO Matthew Shay said.

58.4% of shoppers will head to discount stores, followed by 41.4% in department stores. Online shoppers grows to 21.4%, up from 18.8% last year.

Source: National Retail Federation

NRF REPORTS INCREASE IN RETAIL EMPLOYMENT

The NRF (National Retail Federation) commented on the Labor Department’s report that retail employment (excluding gasoline stations, automobiles and restaurants) was up 51,100 jobs in February. Compared with February 2015, retail jobs were up by 247,300. Apparel stores saw a significant gain of 11,100 jobs. The NRF noted that weather played a big part of the increase.

“Weather has a serious impact on the retail industry, and when cold winter weather finally made its appearance shoppers headed to stores and brought shopping patterns to a good level,” said National Retail Federation chief economist Jack Kleinhenz said. “This solid report shows that the consumer is confident and continuing to shop.”

Source: Retailing Today

NRF SAYS MILLENNIALS WILL SAVE THEIR TAX REFUNDS INSTEAD OF SPLURGING ON RETAIL

Retailers have depended on American’s using their IRS tax refund checks to boost February and March sales. However, according to a survey conducted by the National Retail Federation (NRF), more than half of those expecting a refund are planning to save their money instead of spend it. This is the highest level since the NRF has begun conducting the survey.

Millennials, ages 18 to 24, show 57.3% planning to save and 27.4% planning to spend their refunds on everyday purchases like gas or groceries. In the 25 to 34 year old bracket, 52.3% plan to save and 45% plan to repay debt.

In addition to saving, 22.4% of Americans will save their refunds while 11.4% will plan a vacation. “Consumers are building their spending power and boosting their confidence as they set aside their checks from Uncle Sam,” NRF president and CEO Matthew Shay said. “Americans this year see refund season as a time to improve their financial health by using their refunds to get ahead on savings goals and plan for bigger purchases in the future. Money saved is money waiting to be spent.”

As refund checks start to get into Amercan’s hands, it will remain to be seen if this holds true for future retail spending and whether they will actually save the money or decide to shop instead.

Source: Chain Store Age

NRF THINKS 2016 WILL BE A HAPPY NEW YEAR FOR RETAIL

The NRF forecasts a 3.1% increase in retail sales growth in 2016, which will exceed the 10 year industry average of 2.7%. The National Retail Federation also forecasts ecommerce growth to be between 6-9%.

The NRF makes this forecast based on assumptions on employment gains. It believes that prospects for consumer spending are going to be higher as it expects a continued growth in the labor market. 

“Wage stagnation is easing, jobs are being created and consumer confidence remains steady, so despite the headwinds our economy faces from international developments, particularly in China, we think 2016 will be favorable for growth in the retail industry,” said NRF President and CEO Matthew Shay.

The NRF’s chief economist indicated that with lower gas prices creating more discretionary income, more jobs, and with retailers continuing to find ways to compete and succeed in a cost-conscious environment, 2016 should be a good growth year for retail.

Source: Chain Store Age

NRF SURVEY REVEALS INVENTORY SHRINK IS A $44 BILLION PROBLEM FOR RETAILERS

Inventory shrink, or the loss of product due to shoplifting, employee and vendor theft and administrative errors, costs retailers billions of dollars. The NRF and the University of Florida provided survey results this week stating that in 2014 inventory shrink averaged 1.38% of retail sales, or $44 billion.

Shoplifting accounted for 38% of the loss, followed by 34.5% in employee theft. The rest consisted of 16.5% administrative errors, 6.8% vendor fraud or error and 6.1% unknown loss.

While grocery chains have the highest shrink rate, home center/hardware/lumber/garden reported average shrinkage of 1.09%.

Tracking inventory effectively is key to managing shrink. Actual and accurate inventory counts eliminates the over/under counting in the results. Verifying product delivered is what was ordered and is accurately described in systems is also paramount – if an expected-sized item was not available, and the vendor ships a different size, but that difference is not noted, a retailer can end up with a surplus of one size, a shortage of another, and a dent in their inventory valuation. Inventory measurements should be looked at in both units and dollars. A retailer could be 99.5% accurate in dollars but only 94% accurate in units.

Shrink-related data is stored in different applications such as POS/point of sale, inventory, receiving and store applications. Having the ability to obtain reports that combine point of sale and inventory data in a timely fashion is imperative to take action quickly before the data becomes outdated.

Accelerated Analytics is a comprehensive service for collecting, analyzing and reporting on POS point of sale and inventory data, to increase sales, optimize inventory, recognize inventory shrink and respond faster to this information.

Source: Chain Store Age, ProSales

NRF ANNOUNCES AMERICANS ARE POISED TO SPEND THIS EASTER

The National Retail Federation released its 2015 Easter Spending Survey, gauging consumer behavior and shopping trends leading to the holiday. The report finds that the average person celebrating Easter will spend $140.62, over 2014’s $137.46 average spend. Total spending is expected to reach $16.4 billion.

“Easter will be the perfect segue into spring for both consumers and retailers who have longed for warmer weather for quite some time,” said NRF President and CEO Matthew Shay. “As one of the busiest times of year for several retail sectors and as shelves begin filling with both traditional spring and holiday merchandise, retailers are looking forward to welcoming shoppers with attractive promotions on home goods, garden equipment and traditional Easter items.”

The survey found that 45% of those celebrating will purchase clothing, spending more than $2.9 billion. They will also spend $2.4 billion on gifts, $1.1 billion on flowers, $998 million on decorations and $695 million on greeting cards.

58% plan to spend at discount stores, while 41% will shop at department stores. Additionally, 21.8% will shop at a specialty store and 18.8% will shop online.

Source: Retailing Today

NRF Weighs In On February Retail Sales

March 13, 2014

Many retailers have pointed to a persistent and severe winter for weak holiday and fourth-quarter sales.  But according to the National Retail Federation (NRF), retail sales rebounded in February.

The NRF said that February retail sales, excluding automobiles, gas stations and restaurants, increased 0.2% adjusted month-to-month and 2.3% year-over-year.

"Today's positive retail sales report indicates that the economy is primed for growth," said president and CEO Matthew Shay.  "Retailers and consumers endured the harsh winter and they're hoping both the natural and man-made obstacles to growth will leave with the snow."

Shay went on to say that retailers are facing "serious" headwinds placed on them by policymakers in Washington who are pushing for new overtime mandates and a higher minimum wage.  According to Shay, for the economy to fully recover, the administration and Congress neet to "quit politicking and focus on growth and job creation."

"Despite a long and cold winter, consumers continued to persevere and spend in February," added chief economist Jack Kleinhenz.  "This month's retail sales data is encouraging and above expectations.  However neither the jobs nor retail data reflect the fundamental health of the economy.  While the weather continues to play tricks on economic forecasts and figures, we expect much-needed clarity come spring as consumers release pent-up demand."

Additional NRF findings from the February retail sales report include the following:

• Building material and garden equipment and supplies dealers stores sales increased 0.3% seasonally-adjusted month-to-month and 3.2% year-over year.
• Clothing and clothing accessories stores sales increased 0.4% seasonally-adjusted month-to-month and 2.4% unadjusted year-over-year.
• Electronics and appliance stores sales decreased 0.2% seasonally-adjusted month-to-month and 2.3% unadjusted year-over-year.
• Furniture and home furnishing stores sales increased 0.4% seasonally-adjusted month-to-month and remained unchanged unadjusted year-over-year.
• General merchandise stores sales decreased 0.3% seasonally-adjusted month-to-month and 0.9% unadjusted year-over-year.
• Health and personal care stores sales increased 1.2% seasonally-adjusted month-to-month and 5.6% unadjusted year-over-year.
• Nonstore retailers sales increased 1.2% seasonally-adjusted month-to-month and 6.8% unadjusted year-over-year.
• Sporting goods, hobby, book and music stores sales increased 2.5% seasonally-adjusted month-to-month yet decreased 5.3% year-over-year.

Source: Retailing Today

Holiday Retail Sales Come in at NRF Expectations

The National Retail Federation recapped Holiday 2013 in a PR... and sales were pretty good.  It remains to be seen however how profits fair due to heavy discounting.  The next quarterly filings by retailers will tell that tale. 

Holiday Retail Sales Come in at NRF Expectations
Sales Increased 3.8% to $601.8 Billion; NRF Projected 3.9% to $602 Billion

NEW YORK, January 14, 2014 – Severe winter weather did not dampen December retail sales as shoppers took advantage of heavy promotions and last-minute deals. According to the National Retail Federation – the world’s largest retail trade association – December retail sales, which exclude automobiles, gas stations and restaurants, increased 0.4 percent seasonally adjusted month-to-month, and 4.6 percent unadjusted year-over-year.

Total holiday retail sales, which include November and December sales, increased 3.8 percent to $601.8 billion, which was in line with NRF’s projected forecast of 3.9 percent and $602.1 billion. In addition, non-store holiday sales, which is an indicator of online and e-commerce sales, grew 9.3 percent to $95.7 billion.

“Despite facing a truncated holiday season, severe weather, and shaky consumer confidence, retailers rose to the challenge and executed their strategies with proven success,” NRF President and CEO Matthew Shay said. “Today’s holiday sales numbers are a testament to a resilient industry that knows what their customers want, when they want it and how they want to get it. Considering that retail sales are an important barometer when measuring the overall health of our national economy, this report provides a level of true optimism that the recovery is picking up steam, and once again, retail leads the way.”

December retail sales, released today by the U.S. Census Bureau, which include categories such as automobiles, gasoline stations, and restaurants, increased 0.2 percent seasonally adjusted month-to-month, and 4.1 percent adjusted year-over-year.

“Retail sales have been volatile all year and the holiday shopping season was no exception,” NRF Chief Economist Jack Kleinhenz said. “Solid job growth in the months of October and November led to a more-confident consumer and healthy holiday shopping season for many retailers. While economic and policy uncertainties remain, the economy seems set for steady growth in the New Year.”

“Undoubtedly, some of the increase came at the expense of margin. Retailers are still stressed and a long-term promotional environment may actually hurt the bottom line,” said Kleinhenz.  “As consumer confidence grows, there will be less need for retailers to heavily promote and discount their offerings.”

Other findings from the December retail sales report include:

• Building material and garden equipment and supplies dealers stores’ sales decreased 0.4 percent seasonally-adjusted month-to-month yet increased 4.2 percent unadjusted year-over-year. 
• Clothing and clothing accessories stores' sales increased 1.8 percent seasonally-adjusted month-to-month and 4.7 percent unadjusted year-over-year. 
• Electronics and appliance stores’ sales decreased 2.5 percent seasonally-adjusted month-to-month and 1.5 percent unadjusted year-over-year. 
• Furniture and home furnishing stores’ sales decreased 0.4 percent seasonally-adjusted month-to-month yet increased 5.0 percent unadjusted year-over-year. 
• General merchandise stores’ sales were flat seasonally-adjusted month-to-month and flat unadjusted year-over-year. 
• Health and personal care stores’ sales increased 0.6 seasonally-adjusted month-to-month and 5.9 percent unadjusted year-over-year. 
• Nonstore retailers’ sales increased 1.4 percent seasonally-adjusted month-to-month and 14 percent unadjusted year-over-year. 
• Sporting goods, hobby, book and music stores’ sales decreased 0.6 percent seasonally-adjusted month-to-month yet increased 5.8 percent unadjusted year-over-year.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. www.nrf.com 

NRF Leads Fight Against Unfair Trucking Regulations

The National Retail Federation joined a coalition of manufacturers, shippers and transportation providers opposing new federal trucking regulations on drivers' hours of service.

"The retail industry is at the crossroads of the supply chain, interconnecting manufacturers and suppliers with vendors and customers," NRF president and CEO Matthew Shay said.  "It is the retail industry's responsibility to get products to market and into consumers' hands in a safe and timely manner.  It is a responsiblity that we hold dear.  Any new regulation that impedes that ability increases our transportation costs, increases consumer prices, and jeopardizes the fragile economic recovery."

The joint brief challenges the Federal Motor Carrier Safety Administration's new hours of service regulations.  The new rules require mandatory and specified truck driver work breaks, rest periods, and changes the existing 34 hour restart period to include consecutive nights off.  NRF had previously filed comments with the FMCSA during the rulemaking process to express the retail industry's concerns.

"The Administration failed to take into account the serious economic ramifications faced by the broader supply chain community when drafting these rules," Shay said.  "NRF believes that the new requirements will only drive up costs, make trucking less safe, increase congestion, and ultimately hurt job growth and the economy.  Any change in supply chain policy should be based solely on science and fact."

Source: retailingtoday.com

Spring Apparel, Candy to Send Easter Sales Past $16 Billion, According to NRF

Spring Apparel, Candy to Send Easter Sales Past $16 Billion, According to NRF

It seems even high prices at the pump can’t keep the Easter Bunny away this year.  According to NRF’s Easter spending survey, conducted by BIGinsight, Americans will shell out an average of $145.28 on everything from apparel and candy to food and decorations this year, up 11 percent from $131.04 last year. Total spending is expected to reach $16.8 billion.*

“Though the price of gas is on everyone’s mind, Easter is one of the few holidays some consumers are willing to stretch their budgets, especially because many children look forward to treats and new outfits on Easter morning,” said NRF President and CEO Matthew Shay. “Retailers will make sure to offer plenty of promotions on candy, apparel, food and decorations in the coming weeks for eager holiday shoppers.”

Read the entire article on NRF's website