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2013 Economic Impact of Easter at $17.2 Billion, Likely Undercounted
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24/7 Wall St. tries to evaluate what the cost of each major holiday will be, or what the economic contribution is. The National Retail Federation tallies each holiday up using data from BIGinsight and this year’s survey was based on data from 5,050 consumers. What we find each holiday is the holiday’s economic value tends to be under-calculated. The 2013 Easter tally in America is put at $17.2 billion, but the reality is that much more gets spent than this number.
The 2013 report was called one of frugality as the average person celebrating Easter will spend roughly $145.13 in 2013 versus $145.28 in 2012. The total comes from spending on candy, decor, apparel and food. Here are some basic statistics used from the study:
There is also proof that the mobile internet is taking over on shopping as well, even for the Easter Bunny. The report showed:
We would again note that the holiday tally here sounds huge at $17.2 billion in 2013. Our issue is that of the $145.13 spent, the tally of clothing, candy, gifts, food, flowers, decorations and greeting cards comes to $116.39. The “other” category is only $28.74 and does not include many of the things we might lump in with the extra family spending.
Read Also: The Cost of the 12 Days of Christmas
Many families go out of town to see family or to get away for the three-day weekend. Most schools were out on Friday, the banks and markets were closed, as were many government offices. The driving, airline tickets, hotels, and the new clothing that is likely bought ahead of a trip would blow this number out of the water. What about all of the extra churchgoers that head to church with their family? That brings extra dry cleaning bills, extra gasoline, and of course extra monetary donations. Then there are also all of those emergency expenses for things like bandaids and all of those “I forgot to bring” expenses that happen just about every time someone travels or goes somewhere outside of their house.
We would conclude with one simple question after tallying up all the other expenses that are not just considered to be retail expenses that the BIGinsight focus used and all the non-retail or planned expenses. Does all of this make really Easter more than a $20 billion holiday?
Read Also: How Halloween Now Costs Over $10 Billion
Oh, and there is one last thing for those who celebrate this holiday. Happy Easter!
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