May 1, 2014
For 11 years now, the National Retail Federation has gauged consumers’ spending intentions on America’s favorite holidays like Valentine’s Day, Mother’s Day, Halloween and of course, Christmas.
During that time, Halloween has grown to become one of the most popular holidays of the year, average spending on back-to-school items has increased 31 percent since 2004 , and Thanksgiving Day has officially become a bona fide shopping day for millions of bargain-hungry Americans. So, how do holidays “rank” when it comes to consumer spending? Here’s how each holiday ranks as of the release of the latest Mother’s Day survey:
Winter holidays: As the largest gift-giving holiday of them all, the winter holidays account for nearly 20 percent of total annual retail sales for retailers. In 2013, holiday celebrants spent an average of $730 on gifts, food, decorations and more. After all was said and done, NRF found that holiday sales increased 3.8 percent to $602 billon. More than 90 percent of Americans celebrated Christmas, Kwanza or Hanukah last winter, the most celebrated season of the year.
Back to school/College: Spending on pencils, backpacks, denim, college dorm furniture and collegiate wear, tablets, smartphones and notebooks costs mom and dad hundreds of dollars on average and a total of $72.5 billion last year. But savvy parents know bargains are not hard to find. Almost every sector of retail plays a role: drug stores, thrift stores, electronics stores, department stores, discount stores and even grocery stores for penny-pinching college students and their parents.
Mother’s Day: Consumers say they will spend an average of $163 this year – $19.9 billion total – with the majority of their budget going to special outings, new apparel items and jewelry. As to why Mother’s Day is so much bigger than Father’s Day: the types of gifts people typically buy mom tend to cost a little more, and dad even admits that he doesn’t like all the fuss anyway.
Halloween: In 2013, two-thirds of Americans said they would partake in Halloween activities, spending $75 on average to celebrate, for a total of $6.9 billion. The holiday has become more of an adult event than ever before, helping boost spending on costumes, candy, decorations and party materials more than 55 percent since 2005. With the growth in popularity, other sectors have jumped into the mix. Home improvement stores take advantage of their vast space to sell life-sized yard decorations, and drug and grocery stores are also now devoting select aisles to decorations, candy and costumes.
Source: National Retail Federation
Related posts
