Greener Easter baskets

Retailers could see a jump in spending through early Spring as consumers hop on top of Easter shopping.

Consumers are expected to shell out a record $24.8 billion this Easter, according to a survey from the National Retail Federation and Prosper Insights & Analytics. That follows a lackluster 2022, when inflation was heating up.

High inflation is still squeezing consumers’ wallets and there are growing worries about a recession on the horizon, but many parts of the economy remain strong, including the labor market.

“We are seeing real Easter sales growth compared with pre-pandemic, and among the drivers are consumers who are planning to purchase more Easter clothing and gifts,” said Phil Rise, Prosper executive vice president of strategy.

Food is the biggest expected expense, coming in at $7.3 billion as people gather for big Easter meals. More general gifts and candy are expected to account for $3.8 billion and $3.3 billion, respectively. Flowers, decorations and clothing are among other items people plan to buy for the holiday.