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Fourth of July spending takes a dip because of ‘Hump Day’

To celebrate the birth of our country, Americans eat a whole lot of hamburgers and hotdogs. And no Fourth of July party is complete without loads of other red, white, and blue picnic paraphernalia. But according to the National Retail Federation and Prosper Insight & Analytics, consumers are planning spending less overall this year than last year. Consumers will spend about $6.9 billion, down from $7.1 billion in 2017. The decrease is attributed to the holiday falling on a Wednesday. But patriotism is still high. Despite the decrease, this is still the second-highest amount reported in the history of the survey and the highest per-person spending ever. Nearly 153 million Americans are planning a cookout or a picnic. Average spending per person is reportedly $75.35 — up from $73.42 in 2017. More than 216 million Americans plan to observe the holiday in some way — down from 219 last year. About 31 million Americans…

Consumers to spend nearly $90 per person for Super Bowl food, drinks, items

It might not be an actual holiday, but consumers are ready to spend like it is. Americans are expected to shell out $87.17 on average for Super Bowl Sunday related items in the days leading up to the big game on Feb. 4. According to a report from the National Retail Federation (NRF), this number is up 8.5 percent from last year, amounting to a total of $15.3 billion in sales surrounding the event. “Whether throwing their own party, heading to a friend’s house or gathering at their favorite bar or restaurant, consumers are ready to spend on the big game,” NRF President and CEO Matther Shay said in the report. ” An estimated 188.5 million people are expected to watch a the New England Patriots take on the Philadelphia Eagles in Super Bowl LII in Minneapolis — about the same viewership as 2017. Justin Timberland will command the halftime show stage, becoming the first musician to…

Consumer survey forecasts a busy holiday shopping season

Consumers expect to spend an average of $967.13 on holiday shopping this season, according to a survey conducted by Prosper Insights & Analytics for the National Retail Federation (NRF). That’s up from the $935.58 consumers said they would spend in 2016. The national survey found that shoppers are less concerned about the economy than they have been in the past. Only 27 percent reported that their spending would be affected compared to 32 percent last year. “With employment and incomes increasing, consumers are more confident this year, and that is reflected in their buying plans for the holidays,” NRF President and CEO Matthew Shay said. “All signs are that this will be a busy holiday season.” Shoppers plan to spend these amounts in the three major categories: gifts ($608.06); foods, decor and cards ($218.08); and non-gift items ($140.99). For the first year ever consumers named online as their most likely shopping destination with 59 percent…