The Easter Bunny is getting pinched this year
Tighter family budgets mean fewer Peeps, chocolate eggs and bonnets. Shoppers say they'll be looking for bargains.
With consumers hit by higher payroll taxes and feeling squeezed by a jump in gas prices this year, the Easter Bunny is getting shortchanged.
Retailers can expect the average Easter celebrator to spend $145.13 on candy, decorations, clothing and food, down a tick from $145.28 last year, according to a study from the National Retail Federation.
Even though it's a small shave for Easter spending, it's not good news for retailers already worried about consumers' tight wallets. Executives at Wal-Mart (WMT) had already expressed concern about a "total disaster" in its February sales as payroll-tax increases hit consumers earlier this year.
With shoppers watching their spending, almost two-thirds of families said they'll hit discount stores this Easter. Only 40% of those surveyed said they'd visit department stores such as Macy's (M), which tend to sell pricier clothing and home decor.
"Look for cost-conscious parents to scope the sale racks, head to discounters, and clip coupons to keep spending on track," said Pam Goodfellow, director of BIGinsight Consumer Insights, which conducted the survey, in a statement.
Nine out of 10 consumers plan to stock up on Easter candy, with families spending an average of almost $21 on chocolate, jelly beans and other goodies like Peeps and Mondeléz International's (MDLZ) Cadbury creme eggs.
The biggest portion of spending will go toward an Easter brunch or dinner, with most families spending an average of $45.26 on groceries for a holiday meal.
About half of consumers will buy new spring clothing. But they won't have huge budgets for those bonnets: Families are earmarking only about $26 for new pastel-colored outfits.
Celebrate with family dinner. Kids don't need all that crappy candy. My grands get $2 a piece as we are on limited income.
Holidays are fake, capitalism driven events designed to separate you from your money. Look at a calendar......every month some *special event* happens in which you are told you must spend money in order to "celebrate". The only month without a holiday is August...which doesn't need one, thanks to "back-to-school".
Holidays are a luxury and nobody does them bigger and better than people with an EBT card.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
A strategist with Bank of America analyzes the currency in a 14-page note to clients -- and likes what he sees.
- Part-time workers hurt by on-call system
- 5 myths about late payments and your FICO scores
- Auto loan interest rates hit record low
- Should the US scrap the debt ceiling?
- Will new mortgage rules mean fewer lenders?
- Why GM, Chrysler are riding high
- Survey: Dashboard lights fail to send right message
- Can you opt out of Medicare?
- Student loan debt climbs for 5th year in a row
[BRIEFING.COM] The drive for five continued today and it was a success. For the fifth straight session, the S&P 500 ended lower. Like the previous four sessions, though, the losses were fairly modest in scope. The S&P 500 declined 0.4%, bringing its total loss for the five sessions to 22 points or 1.2%. All in all, that still qualifies as a pretty tame slide considering the S&P 500 had risen 150 points, or 9.1%, over the previous eight weeks.
Today's ... More
More Market News
The retailer labels the character's fake memoir as non-fiction. This comes weeks after it categorized the the Bible as fiction.