Consumer Watch: Americans expected to spend more
OKLAHOMA CITY (KOKH) —
Easter sales are hitting their peak less than a week from the holiday, and spending is expected to be higher than in years past. Easter is a little later this year and that is potentially great news for retailers especially when we are talking about candy.
Candy sales locally are increasing for some retailers in the days before the Easter weekend. For the 42nd Street Candy Company sales are looking better compared to years past, and employees expect to be taking special orders for custom Easter baskets throughout the rest of the week.
"It is so great to have all of the construction gone, and now people can easily get to our stores, and we've got lots of basket orders for Easter," says Theresa Wall, owner.
Retailers are excited about this Easter’s potential high selling power. The National Retail Federation estimates each person will be spending an average of 146 dollars. There is one big reason people are more relaxed about their spending for this holiday-- it's later than usual. This means there has been more time to recover from celebrations early in the year.
"People have eaten all their Valentine’s candy and they are ready for Easter. When Easter is really close, when it is closer in March, it is not as good," says Wall.
The NRF study shows that the majority of people are buying their Easter candy or decorations at discount retailers or department stores, and some 25-percent of people who participated say they are making a point of using local businesses to do their Easter shopping.
The financial side of the Easter holiday isn't just about candy or family meals; the National Retail Federation says that 50 percent of consumers report they will be taking advantage of clothing sales this year