Grilling Up Good Times on the Fourth of July
With winter’s polar vortex a distant memory, summer’s warm temperatures have consumers celebrating in front of the grill.
According to NRF’s 2014 Independence Day Survey conducted by Prosper Insights & Analytics, more than 153 million consumers – nearly two-thirds of those celebrating – are set to observe the Fourth of July holiday with a cookout, barbeque or picnic, spending an estimated $6.2 billion ($68.16 per household) on burgers, snacks and other food items for the occasion. This is the first year NRF asked celebrants about their spending plans on food items.
While the majority will spend the day around a picnic table, many will also attend a fireworks display or community celebration (105 million) or a parade (27 million). Plans for each of those activities declined from last year, but an increasing number of celebrants are taking advantage of the three-day holiday weekend: 13.7 percent (32 million) plan to take a vacation, the highest in the survey’s history. This figure rises to nearly one in five among Millennials.
Although gas prices continue to creep upward, holiday travelers seem relatively undaunted. More than 70 percent indicate their spending for the Fourth of July will not be impacted by prices at the pump, up from nearly 65 percent a year ago.
Access more data from the NRF Independence Day Survey: Visit the Retail Insight Center.
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Retail job openings edged up for a third straight month to 539,000 in June, and hiring increased to 792,000 jobs. http://t.co/AeexX0ZYvx3 hours ago