Spending for Easter is expected to rise in 2019, with shoppers set to spend almost $3.4 billion nationwide over this coming long weekend, a 2.24% increase on 2018.
Each year retailers see shoppers across the country give in to their sweet tooth and spend big bucks on chocolate to celebrate the traditional Easter holiday.
NRA CEO Dominique Lamb said although the retail sector is struggling this year, this projected spend will surely come as good news for retailers.
“The NRA is delighted to forecast that this year (2019) shoppers are set to splash almost $3.4 billion nationwide during this Easter holiday,” Ms Lamb said.
“With a holiday where it’s customary to crack open a chocolate egg for brekkie, it’s no shock that the average consumer will spend $228 million on Easter-related chocolate products alone.”
Food and beverages, and holiday and travel are the largest beneficiaries of the Easter holiday spending projections, with a 1.8% and 3% growth respectively since 2018.
“The growth in holidays and travel will no doubt be from the increase in available leisure time,” Ms Lamb said.
“With ANZAC day falling only a couple days after the Easter long weekend, many employees will take this opportunity to take extra leave over the three-day working week.
“Consumers will spend around $1.5 billion on holiday and travel this year (2019),” she said.
Consumers are also projected to spend $28.7 million on fish and seafood, $157.2 million on alcohol, $69.7 million on pubs and bars, and $7.3 million on eggs (chicken).