Americans are ready to put on their red, white and blue to celebrate Independence Day with friends and family – and plenty of food. According to the National Retail Federation’s 2015 Independence Day Survey conducted by Prosper Insights & Analytics, 64.4 percent of those celebrating are planning to take part in the patriotic holiday by attending a cookout, picnic or barbecue, spending an average of $71.23 per household, up from $68.16 last year. Total spending on food items for the holiday is estimated to reach $6.6 billion.
“The busiest half of the year for retailers is about to begin, and with economic conditions swaying in consumers’ favor more so this year than last, many seem eager to take advantage of retailers’ promotions,” said NRF President and CEO Mathew Shay.
When it comes to shopping for new Independence Day merchandise 22.8 percent will hit the stores looking for decorations, apparel and more to celebrate in style.
The survey found 42.6 percent will attend a fireworks display or community celebration, and 11.5 percent of those celebrating will watch a parade. The holiday weekend is also a popular time for travel and vacations as Americans say they will head out of town.
When asked about the impact gas prices will have on their spending, and 78 percent say that the price of gas will not impact their spending for the holiday weekend, up from 70.1 percent who said so last year.
“Consumers this summer and for the 4th of July will take advantage of lower gas prices to head to the beach or get together with family – something they’ve had to think long and hard about in recent years with higher energy costs and limited budgets,” said Prosper Insights Consumer Insights Director Pam Goodfellow.
About the Survey
The NRF 2015 Independence Day Spending Survey was designed to gauge consumer behavior and shopping trends related to the Independence Day holiday. The survey was conducted for NRF by Prosper Insights & Analytics. The poll of 6,431 consumers was conducted from June 2-9, 2015. The consumer poll has a margin of error of plus or minus 1.2 percentage points.