Big Plans for Food Spending This Holiday Weekend

Retailer survey estimates $6.2 billion to be spent on food and snacks over July Fourth.

July 03, 2014

WASHINGTON – With winter’s polar vortex a distant memory, summer’s warm temperatures have consumers celebrating in front of the grill.

According to the National Retail Federation’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 consumers about their spending plans on food items.

While the majority will spend the holiday around a picnic table, many will also attend a fireworks display or community celebration (105 million) or a parade (27 million), a slight decline from last year.

An increasing number of celebrants are taking advantage of the three-day holiday weekend to travel: 13.7% (32 million) of those surveyed plan to take a vacation, the highest in the survey’s history. This figure rises to nearly one in five among Millennials.

And although gas prices continue to creep upward, holiday travelers seem relatively undaunted. More than 70% indicate their spending for the Fourth of July will not be impacted by prices at the pump, up from nearly 65% a year ago.

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