Economic bump could be ahead, if Easter is right

Spending for holiday could be indication of future boosts ahead

Easter 2021 is going to be big – at least, if the spending estimates by the National Retail Foundation are any indication.

According to the NRF, 79 percent of Americans plan to celebrate Easter this year.

As part of those celebrations, consumers plan to spend an average of $179.70 on Easter gifts and celebrations, the highest amount in the survey’s history. In fact, spending for Easter is expected to collectively total $21.6 billion.

Readers, that is a LOT of jelly beans and chocolate bunnies!

The survey found that 59 percent of consumers planned to cook a holiday meal, 43 percent planned to visit with family and friends, 31 percent planned to hold an Easter egg hunt, and 28 percent planned to attend church.

The NRF points to the latest round of stimulus funds, combined with “positive trends in vaccinations and growing consumer confidence,” which is building momentum into

Easter.

“Many have figured out how to celebrate holidays safely with family and that is reflected in consumer spending this Easter,” the NRF notes.

Could this be an indication of spending sprees to come? Holiday celebrations across much of America were muted affairs in 2020. But now, with vaccination programs marching full steam ahead, there is a chance that Americans will go all out in 2021, making up for lost opportunities in 2020.

We can’t blame them – as vaccines roll out, people are feeling something that has been missing lately: optimism.

After a year inside, avoiding other humans, many are ready to celebrate.

And as people begin to truly venture back out into the world, that in turn should lead to businesses reopening or expanding back to their full potential. It will take some time to do this safely, but as our herd immunity builds, so too should our economy and business opportunities – at least in theory.

It will be interesting to see how this plays out in our economic sectors, but hopefully, it brings a much-needed boost to Yuma County’s businesses!