Thursday, April 25, 2024

Aussies to spend $2.05b this Easter

Australians are expected to spend $2.05 billion on hot cross buns, Easter eggs and other special food this Easter, approximately $400 million more than in 2023.

According to research from the Australian Retailers Association (ARA) in collaboration with Roy Morgan, 17.3 million Australians plan on buying Easter food and chocolate – up one million on a year ago.

People in Victoria are set to spend the most on Easter food and chocolates, at $760 million and an average spend of $175 per person. NSW is tipped to spend $640 million, at an average of $114 per head.

The 18-34 age bracket will spend the most on treats at $800 million across the country, for an average spend of $136 per head. They are trailed by the 35-49 demographic, who will spend $560 million, or $122 per head.

Despite the increased spend overall, most surveyed Australians plan on spending broadly the same amount as last year (63%), with almost a third planning to spend less (29%) and just 8% planning to spend more.

ARA CEO Paul Zahra says while most shoppers will be spending a similar amount to last year, the overall spend has significantly increased largely due to Australia’s rapidly growing population.

“Roughly one million more people will be buying Easter treats this year, which coincides with Australia’s population growth of 2.4% over the past year,” he says.

“While most Australians will be looking to spend the same or less as last year, the increase in our population has bolstered the overall spend significantly.

“Australians are under severe pressure right now due to the rising cost of living and interest rate hikes, but for many, Easter is a 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. While shoppers are continuing to tighten their purse strings, these special occasions are a welcome time of indulgence.”

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