Grocery chains across the United States are featuring seafood this week, aiming for a slice of what is projected to be record spending for the Easter holiday.
Americans plan to spend a collective USD 24 billion (EUR 22 billion) on Easter this year, up from USD 20.8 billion (EUR 19.1 billion) in 2022, according to the National Retail Federation and Prosper Insights and Analytics’ annual survey. Eighty-one percent of Americans will celebrate the holiday and spend an average of USD 192 (EUR 176) – the highest figure on record.
“We are seeing real Easter sales growth compared with pre-pandemic," Prosper Insights Executive Vice President of Strategy Phil Rist said. "Consumers ages 35 to 44 will bump up their spending more than any other group."
Research firm Numerator found 85 percent of consumers plan to celebrate Easter, with 57 planning to spend it with family and friends. Members of Gen X and Boomers are more likely to celebrate Easter overall, while Gen Z and Millennials are twice as likely to travel for the holiday, Numerator said.
The top Easter items consumers say they are planning to purchase include candy (USD 3.3 billion, EUR 3 billion), gifts (USD 3.8 billion, EUR 3.5 billion), and food (USD 7.3 billion, EUR 6.7 billion). The most popular Easter Sunday activities this year include cooking a holiday meal (56 percent), visiting family and friends (50 percent), going to church (43 percent), and planning an Easter egg hunt (34 percent).
The NRF and Prosper Analytics survey found 54 percent of those not celebrating the holiday still plan to take advantage of Easter-related bargains. They anticipate spending USD 23.41 (EUR 21.48) per person and are primarily looking to purchase candy and food.
Despite a projected increase in spending for the holiday, 51 percent of consumers expect economic hardships to affect their holiday plans, according to Numerator.
“Fifty-seven percent of consumers have a high level of concern regarding the economy,” Numerator said in a separate press release, and 68 percent of Americans believe the country is in an economic recession, it found.
For Easter, consumers plan to save money by buying items on sale (58 percent), using more coupons (37 percent), preparing budget-friendly foods (29 percent), and shopping at dollar or discount stores (26 percent).
Retailers and restaurants alike are offering seafood at a value – along with some luxury items – to draw in Easter shoppers and diners.
Greensboro, North Carolina, U.S.A.-based The Fresh Market is offering several seafood specials throughout this week and weekend, the operator of 159 stores in 22 states told SeafoodSource.
“In addition, we are always rotating out different seafood options for our Little Big Meal deals. We really pride ourselves on our fresh seafood and meat department,” a spokesperson for The Fresh Market said.
Retailers are also promoting crab for the holiday, with some Safeway stores promoting fresh whole Dungeness crab for the holiday, Jacksonville, Florida, U.S.A.-based Winn-Dixie offering frozen snow crab legs for USD 9.99 per pound, and Fresh Thyme stores offering a specials on colossal king crab legs.
Crab prices have declined significantly over the past few months, offering more of a value for shoppers. Frozen crab prices, for example, dropped 71.6 percent over the most recent 13 weeks ending 26 February, according to 210 Analytics and Circana (formerly IRI and NPD Group).
That makes it a good target for supermarkets looking to offer their customers a luxury item at a competitive price,Lakeland, Florida, U.S.A.-based 210 Analytics Principal Anne-Marie Roerink told SeafoodSource
“We always see shoppers willing to open their wallets just a little wider for special occasions,” Roerink said.
Photo courtesy of Fresh Thyme
