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NRF Predicts Cracking Good Easter

Apr 2, 2017 5:18 AM   By Rapaport News
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Easter retail sales will rise this year, as the holiday’s relatively late date means consumers will have longer to do their shopping, according to the National Retail Federation (NRF).

The date of Easter is determined by the moon, and therefore varies from year to year on the Gregorian calendar. This year, it falls out on April 16, almost three weeks later than last year.

“Most consumers have almost an entire extra month to shop for Easter this year, and by the time the holiday comes, the weather should be significantly warmer than last Easter,” said NRF CEO Matthew Shay in a recent statement.

The improving economy means consumers are in the mood to go shopping and retailers are ready to entice them with deals, Shay added.

As such, Easter spending is expected to grow 6% to a record $18.4 billion this year, according to a survey that Prosper Insights & Analytics carried out for the NRF.

Meanwhile, US consumer confidence improved 8% in March from the previous month, hitting its highest level since December 2000, the Conference Board organization said last week.

Image: Max Pixel
Tags: conference board, consumer confidence, Consumer Spending, easter, Easter spending, Matthew Shay, National Retail Federation, NRF, Prosper Insights & Analytics, Rapaport News, retail
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