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Posts Tagged ‘march 2012 monthly consumer survey’

Easter Will Be Hoppin’ for Parents this Year

Ah, the Easter Bunny. Not quite as generous as Santa, but still a fun holiday mascot. Growing up, our Easter Bunny would always hide our baskets around the house, and it was a competition between my two sisters and me not to be the rotten egg – the last one to find her basket. My older sister was always the worst at this – she even lost the year her basket was “hidden” under a paper grocery sack in the middle of the living room floor. #goodtimes

Aside from the obvious – and important – religious aspect of Easter, the holiday has become a lucrative time for retailers to boost sales, too. Easter rivals Mother’s Day and Valentine’s Day in terms of amount consumers plan to spend. So, let’s focus on the commercial side of Easter with a look at the holiday’s “big spenders” – parents.

Let’s face it – not everyone anxiously awaits E. Bunny’s arrival. For those of us without children in the household, we pick up food, candy [hold the marshmallow-esque confections, please!], perhaps some flowers, and a few cards and call it a day, spending-wise. For parents with children in the household, it’s a little different – Susie’s gotta have a new dress that’ll get dirty in a few minutes, Johnny needs a tie that he’ll yank off in no time, and the baskets. Oh, the Easter baskets.

My parents were generally pretty conservative with our baskets [though I’d always covet those monstrous pre-packaged ones you see in the mass stores]. Amid the room-temperature, psychedelic colored hard-boiled eggs, we’d find a fair amount of candy and usually a small gift worth $5 or so. Now I’m not implying that parents today go overboard with the baskets, but judging by the amount they plan to spend on the holiday this year compared to your average celebrant (“Adults 18+”), we can see that there’s definitely more of a financial burden on this segment when it comes to playing the part of the Easter Bunny.

According to the data we collected in March for the National Retail Federation, 91.7% of parents with children in the household (“Parents”) plan to celebrate Easter this year, indexing higher compared to adults in general (81.9%). And among these Parents, they plan to spend a whopping $195.09 for the Easter holiday, more than a third higher than average ($145.28). How does all of this break down? About a quarter of this spending is budgeted for food ($52.36), while apparel ($39.41), gifts ($28.47), and candy ($26.43) make up the bulk of the balance. Here’s a visual:

Easter 2012 Planned Spending by Category

While discounters (69.2%) will be the most likely stop for Parents on their Easter spending spree, the majority (53.2%) of these consumers will also head to department stores. Parents are nearly 50% more likely to visit a specialty clothing store (14.2%) for Easter apparel this year compared to Adults 18+ (9.7%) – looks like little Johnny might be decked out in fancy duds this year.

Where will you purchase Easter gifts this year?For more information on this data, please contact BIGinsight™.

And, for the full press release from the National Retail Federation: Spring Apparel, Candy to Send Easter Sales Past $16 Billion, According to NRF.

Source: BIGinsight™ Monthly Consumer Survey – MAR-12 (N = 9242, 3/6 – 3/13/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

“Save-not-Squander” + More on The Changing American Consumer

March 30, 2012 1 comment

I co-hosted the March BIG Call with a very special guest, Dr. Marianne Bickle, Chair and Director for the Center for Retailing, University of South Carolina. Armed with BIGinsight™ data, Marianne authored the new book, The Changing American Consumer (more on that in a second).

For the first half of the call, I presented new insight from our March Monthly Consumer Survey, which included:
– A rise in Consumer Confidence for the fifth consecutive month
– Fizzling spending with Practicality, Focus on Needs heating up
– The “Save-not-Squander” financial mantra
The Pain at the Pump predicament
– A BIG Forward Look at 90 day spending plans

For the second half of the Call, Marianne presented NEW findings on the Fast Food industry (which has been a hot topic lately…see also here, here, and here). Using our BIG data, Marianne analyzed consumer trends in Fast Food – by income, census region, and gender – and brought everything full circle with a discussion on The Changing American Consumer.

To listen to the recorded webinar, click here.

 

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

Source: BIGinsight™ Monthly Consumer Survey – MAR-12 (N = 9242, 3/6 – 3/13/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

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