More than just Easter Eggs. This Major Religious Holiday has a Surprising Overall Effect on the Economy. 

Easter is one of the biggest holidays in the United States, celebrated by many people across the country. 

According to a 2021 Pew Research Center survey, 64% of the population identify as Christian (including Latter-day Saints) and 2% as Jewish, reaching around two-thirds of the US population somehow celebrating during this season. 

However, beyond its religious significance, Easter is also a major economic driver for several sectors of the economy, including tourism, candy makers, and restaurants.

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According to the National Retail Federation (NRF), Americans spent $18.11 billion on Easter-related purchases in 2021, up from $21.6 billion in 2019, before the pandemic hit. This spending includes purchases of candy, clothing, gifts, decorations, and food.

Candy and Cash During the Easter Holidays

One of the most common traditions during Easter is the Easter egg hunt, which is enjoyed by children and adults alike. 

Candy companies see a significant increase in sales during the Easter season, as people purchase chocolates and candies for the egg hunts and as gifts for loved ones. 

In addition to candies, Easter brunch is also a popular tradition in many households, with restaurants and grocery stores seeing an uptick in business as people prepare for their Easter feasts.

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Government Role in Easter Economy 

The government also plays a role in promoting Easter celebrations, with Easter Sunday being a public holiday in most states. 

Schools typically have a spring break during the week leading up to Easter, allowing families to travel and take advantage of vacation packages. 

The stock markets celebrate a Holiday on Good Friday, and have an increased activity as companies in the tourism, hospitality, and retail sectors experience higher sales during this period.

Easter Holiday Travel is Big Business 

The Easter season is also a popular time for travel, with families taking advantage of the school break to go on vacation. In 2019, the Easter season saw an estimated 100 million people travel in the United States alone, spending over $9 billion on accommodations, food, transportation, and other expenses. 

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This is a significant boost to the economy, particularly for small towns and big touristic destinations, which see a surge in business during the holiday season.

Easter Economy Touches Multiple Industries

The economic impact of Easter spending is significant across several sectors.

• Candy companies alone see an estimated $2.6 billion in sales during the Easter season.
• Accommodations and restaurants also experience a significant increase in business, particularly in popular tourist destinations.
• The fuel industry benefits from increased travel during the holiday season, with gas stations and airlines seeing a boost in revenue.
• Groceries and other retail stores also benefit from the increased spending during Easter, as families purchase food, clothing, and gifts for their loved ones.

What Are They’re Plans?

According to a NRF study, 2023’s Easter was expected to reach a spending record of $24 Billion , according to an annual survey carried out by the Federation and Prosper Insights & Analytics.

81% of the people surveyed were planning on celebrating the Holiday with an average spending of $192.01 dollars.

Among the top celebrations, 56% were planning on cooking a holiday meal, 50% on visiting friends, 43% on going to Church and 34% on hunting for Easter eggs.

The consumers surveyed planned on buying Easter gifts, 54% of them said they would look for them in discount stores, 42% in department stores, 33% would buy them online, 22% in local and small businesses and 20% at specialty stores.

The top items that the Easter celebrators planned on buying were Candy ($3.3 billion), gifts ($3.8 billion) and food ($7.3 billion), while they were also spending $4 billion on clothing, $1.8 billion on flowers and $1.7 billion on decorations, along with $1.1 billion on greeting cards.

Easter’s Overall Impact on US Economy

In addition to the direct economic benefits to specific sectors, Easter also has a positive impact on the overall US economy.

The increased spending during the holiday season creates jobs and boosts consumer spending, contributing to overall economic growth.

The tourism and hospitality sectors, in particular, benefit from the influx of travelers during the Easter season, with job creation and increased revenue in these industries.

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Easter is Bigger Than You Think

While Easter is primarily a religious holiday, it has significant economic implications for many sectors of the economy. 

From candy makers to hotels and restaurants, businesses across the country benefit from increased spending during the Easter season. 

The holiday also has a positive impact on the overall US economy, creating jobs and contributing to economic growth. 

As we celebrate Easter each year, it is important to recognize the economic significance of this holiday and its impact on our communities and the nation as a whole.

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