NEW YORK — Consumers are likely to spend as much as $14 billion on candy-filled baskets, lamb dinners and colored eggs for the Easter holiday weekend, a sign that nonessential purchases are rebounding.
The projected 1.8 percent boost would be the first increase in Easter holiday spending in three years, with food, candy and clothing leading the growth, according to IBISWorld, a Los Angeles- based research firm. Spending for the same period fell 8.3 percent in 2009 and 1 percent in 2008. Estimates are based on IBISWorld surveys, industry reports and sales figures.
“This is another installment of the recent trends we’ve seen toward consumers loosening up their spending patterns,” George Van Horn, senior analyst at IBISWorld, said in a telephone interview. “Consumers are still favoring need versus want, but volume is up as people become more confident.”
Easter typically ranks fourth for spending after Christmas, Valentine’s Day and Mother’s Day. It is followed by Father’s Day, according to the National Retail Federation. Bloomberg News
