The Easter holidays are quickly approaching as we prepare for the beginning of Spring. Easter will commence with Good Friday on the 25th of March and end with Easter Monday on the 28th March.
In the Northern Hemisphere, Easter is a celebration of the beginning of Spring, which represents the celebration of new life and the resurrection of Christ.
While it is fundamentally a religious holiday, Easter has become more than just that in the modern world. It is a time when people can reflect with their loved ones and celebrate through family functions, events and dinners.
Over half (57.4%) of US citizens celebrating Easter will celebrate with friends and family, while half (50.8%) will go to church and 31% will plan a special Easter egg hunt for the children in their lives.
What opportunities are there for retailers?
As well as being a time for celebration, Easter is a time for profitable increases in the retailing sector. Statista reported that US consumers spent more on clothing and other food during the 2014 Easter season than they did on gifts and candy. So in 2016, retailers can expect a further increase in these sales.
The average person celebrating Easter in 2016 will spend $140.62, slightly more than last year’s $137.46. Total spending for Easter, which includes purchases of apparel, decorations, gifts, candy, food, flowers and more, is expected to reach $16.4 billion.
There will be a rise in promotions on home goods, garden equipment and traditional Easter items to welcome the warmer weather. There will also be an increase in clothing purchases, where 45% of those celebrating Easter will purchase clothing, spending more than $2.9 billion on brightly colored items.
Food purchases, as to be expected, will also increase, with 85.7% of those celebrating to purchase food for a family meal or other festivity, accounting for up to $5.3 billion of Easter purchases.
Traditional Easter items will be in huge demand, with 87.1% of those celebrating spending up to $2.2 billion on jelly beans and chocolate bunnies, $2.4 billion on gifts, $1.1 billion on flowers, $998 million on decorations and $695 million on greeting cards.
Small businesses should be prepared for 23.8% of shoppers to buy Easter goods at their store, as well as specialty stores such as florists and jewelers who will sell to 18.8% of consumers.
How can I make the most of this opportunity?
In order to prepare for Easter, we encourage small businesses to take advantage of promotions, which are fundamental in increasing sales. Be sure to have your Easter discounts, loyalty programs and two-for-one deals figured out and advertised in your store and on your website. Also, look at “Easter Window Displays” on Pinterest for some fabulous inexpensive window and store decoration ideas.
If you are looking to rent a pop-up shop or short-term specialty store, consider using this physical space in the one or two-week period before Easter, to make the most of pre-Easter shopping purchases. The long weekend itself will attract a different kind of shopper, as people spend some of their leisure time over the weekend engaging in retail therapy, as well as some last minute purchases for Easter Sunday.
As a retailer, factors such as the weather and school holidays can affect your sales. Since so much of this is outside of your control, manage what you can control and ensure your business has a profitable Easter.
What is your business going to do to increase sales this Easter?