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Easter spending is expected to reach a record high this year

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Posted at 8:58 PM, Apr 02, 2023
and last updated 2023-04-02 23:59:31-04

Easter is exactly one week away and consumer spending isn't backing down this time around.

According to the National Retail Federation (NRF), Easter spending is expected to reach a record high this year.

 Consumers plan to spend a collective $24 billion. It’s a new record high on Easter spending for Americans this year. It's up more than 3 billion from last year.

"We are really thankful that the sun is shining and we're starting to see a pickup in business, especially this last week, right before Easter," said Emily Butler, co-business owner of the Ah Louis Store in downtown San Luis Obispo.

For many, this holiday is all about family.

“For Easter, we're going to go and spend time with my brother, do a carne asada hide the eggs for the kids. We have baskets for them," said Olga Duran who is planning to celebrate Easter.

But you can’t forget about the Easter baskets and other gifts.

According to the NRF, 81% of Americans will spend an average of $192.01.
While the Easter bunny will leave baskets for kids, parents will sometimes chip in and help him out, especially for their adult children.

“People are gifting full Easter baskets with all of the little accouterments to fill in their Easter baskets at home. Everything from surprise dino eggs to candy to plates and napkins for their Easter celebrations" added Butler.

Olga Duran is one of those spending more this year.

“Definitely, because, yeah, more kids, more fun. It's more open so we don't have to wear the mask. So just having more family over," explained Duran.

Data from the NRF stated the top Easter items consumers plan to buy include candy, gifts, and food.

“We also are seeing a trend in gifts that feel good and that give back. We have felt dolls that are made out of recycled water bottles and all-wood toy cars. These are gifts that feel good for parents, grandparents, aunties that are finding those special gifts to put inside their Easter baskets this year," said Butler.