Australian families are projected to spend $2.05 billion on hot cross buns, Easter eggs, and other special foods this coming Easter season – an increase of 23.5 per cent, or nearly $400 million more than last year.
Easter remains a flagship event on the retail calendar, with research from the Australian Retailers Association (ARA) in association with Roy Morgan revealing that 17.3 million Australians plan to buy Easter food and chocolate, up 1 million from the previous year.
Victoria residents are expected to spend the most on Easter food and chocolates, totalling $760 million at an average of $175 per person. NSW is expected to spend $640 million, with an average of $114 per capita.
Despite the increasing expenditure, most Australians want to spend roughly the same amount as last year (63 per cent), with nearly a third planning to spend less (29 per cent), and only 8 per cent planning to spend more.
ARA CEO Paul Zahra said that, while most buyers will spend the same amount as last year, overall spending has climbed dramatically, thanks partly to Australia’s fast-rising population.
“Roughly 1 million more people will be buying Easter treats this year, which coincides with Australia’s population growth of 2.4 per cent over the past year,” Zahra said.
Cementing Easter as a family celebration, the 18-34 age group will spend the most on sweets, totalling $800 million throughout the country, or an average of $136 per person.
