Retail spending is set to boom by more than 14.5 per cent, $200 million, in contrast to Easter 2022, despite the pressure on cost-of-living. Research shows we will spend almost $1.7 billion on Easter eggs, hot-cross buns or other “special” food items.
With pandemic restrictions feeling like history, it seems Easter is returning as a marquee event on the Australian retail calendar.
In collaboration with Roy Morgan, the Australian Retailers Association (ARA) are showing a wide majority of Australians, 16.3 million, or 75 per cent, will throw fiscal caution to the wind, with plans to indulge financially with traditional treats such as chocolate and hot cross buns. That’s up 1.8 million on a year ago.
Possibly unsurprising, more than a third of Australians – 7.9 million, or 37 per cent – plan to celebrate Easter with alcohol.
NSW is set to be the biggest Easter market for food and chocolate, at almost $515 million, an average of $108 per person.
After that, Victoria is looking at $455 million, an average of $97 per head, smaller in population, SA are set for $140 each, and Tasmania are looking at $112 each.
ARA CEO Paul Zahra acknowledges higher prices are part of these increased financial numbers, but says there is still a bright side.
“Australians are under severe pressure right now due to the rising cost of living and interest rate hikes, but for many Easter is time to relax and enjoy special time with family and friends.
“For many Australians, Easter is the last break before winter sets in, and a respite from an intense start to the year. Whilst shoppers are already beginning to tighten their purse strings, these special occasions are a welcome time of indulgence.”
Indulgence seems to be a key word here, with the near eight-million Australians who plan on toasting Easter with alcohol set to spend $275 million through the break, an average of $35 each.
Those aged between 50 and 64 have the highest-planned Easter spend, at $47 each, or $100 million for that demographic.
