Hot Dog! July 4th Cookouts Expected to Cost a Little Less This Year

With Independence Day falling on a Wednesday this year, our family observed the holiday with a cookout held over the weekend. Typically, this occasion is pot luck, and because I’ll try any recipe involving chocolate, I was planning to bake up a batch of Red Velvet White Chocolate Chip Cookies [don’t these look yummy?!] Unfortunately, a sudden summer storm knocked out our power over the weekend, and I had to resort to Plan B: a couple of bags of Mike-Sells and some deli potato salad.

While I certainly hope that the other 160 million patriots celebrating their Independence with a cookout, barbeque or picnic do so with a little more, uh, gas, it’s evident that we will all have something to look forward to: the average price of a July 4^th cookout is projected to be a little lower this year.

Despite consumers’ concerns with rising food prices, the average cost of an Independence Day picnic is down a few dollars to $59.14 (from $61.16 in 2011). This translates into a $2.4 billion in cookout-related spending for celebrants collectively…that’s a lot of coleslaw!

While the prices of charcoal and lighter fluid look to be on this rise for 2012, it appears that grocers are relying on select loss leaders to draw customers to their stores. In particular, we found that hot dogs and American cheese seem to be sparking savings. Knowing how practical consumers continue to be, though, I’d expect ad circulars, coupons, and even mobile devices to play key roles as shoppers seek out the best prices for their cookout supplies.

Other 4^th of July insights this year (collected for the National Retail Federation):
– 115 million people will “ooh” and “aah” over fireworks displays, up from 105 million in 2011
– Nearly 36 million are planning to attend a parade
– About 30 million will hit the road and travel for the holiday
– 137 million proudly fly their American flags

Enjoy a happy and safe 4^th!

Click here for complimentary infographic and cookout-related report.

Click here to view the original release from the National Retail Federation: Fireworks, BBQs in high demand this Independence Day

For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – JUN-12 (N = 8760, 6/5 – 6/12/12)

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