Consumers plan to spend $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.

Eighty-one percent of Americans will celebrate the holiday and spend an average of $192.01, the highest figure on record. Additionally, consumers ages 35 to 44 will increase their spending more than any other group. 8,499 U.S. adult consumers participated in the survey conducted from March 1 - 7, 2023.

2023 Easter Spending Breakdown

Spending is growing across several categories, and the top Easter items consumers say they are planning to purchase include candy ($3.3 billion), gifts ($3.8 billion), and food ($7.3 billion). Consumers also expect to spend $4 billion on clothing, $1.8 billion on flowers, $1.7 billion on decorations, and $1.1 billion on greeting cards.  

As in previous years, most consumers (54%) will buy Easter gifts from discount stores. Other shopping destinations include department stores (42%), online shops (33%), local and small businesses (22%), and specialty stores (20%).

Those celebrating say they are inspired to shop for Easter-related items because of tradition (63%), social activity with family or friends (31%), sales or promotions (29%), store displays or decorations (23%), or exclusive or seasonal products (20%).

About half (54%) of those not celebrating the holiday still plan to take advantage of Easter-related bargains. They anticipate spending $23.41 per person and primarily want to purchase candy and food. 

Create Special Easter Promotions

Is your business ready to take advantage of the rise in Easter sales? Even though Easter is less than a month away, you can still increase your sales by creating special promotions and posting them in your store or restaurant and on your social media channels. Consider partnering with neighboring businesses for a progressive Easter egg hunt. Place a gift card display near your POS system to take advantage of impulse buys. 

There's no limit to your creativity, but what can you do if you haven't planned for increased spending around the Easter holiday? Quikstone Capital Solutions is here to help you with easy and fast working capital for all your business needs. With Quikstone working capital, there is a simple application, and no collateral is needed. If your business processes credit cards, you could qualify for up to $250,000. There are no hidden fees with Quikstone, you'll receive the entire amount you've applied for, and if you need to contact us, our on-site team of professionals can answer all your questions. 

Don't wait for the Easter bunny; contact us today. You can be approved and have the money you need in 2-5 business days.