Mar 26 2018
FOR IMMEDIATE RELEASE
Easter is the Longest Bank Holiday in the British Calendar!
London, U.K. – 26 March 2018 - This Easter is expected to put a spring in the step of a number of industries as total consumer spending for the holiday is projected to reach £1.2 billion, a 6.7% increase on the previous year. Increased spending on Easter eggs and other confectionery and a rise in at-home entertaining are expected to support overall growth, and the largest expenditure is expected to be on Easter getaways.
IBISWorld analyst Nadine Fisher forecasts that holidays taken over the Easter break will amount to £547.5 million in the current year, an increase of 7.2% on last Easter. “People are expected to flee this year’s wintry weather in search of sun, sea and sand. European city breaks are expected to be a popular location to travel this Easter thanks to their rich culture and relatively short distance.”
The bank holiday also provides an eggcellent opportunity to spend time with friends and loved ones and plans for at-home entertaining are likely to spur spending on groceries. Budget retailers in particular, such as Lidl and Aldi, are expected to benefit from this, as increased inflation is encouraging consumers to seek greater value in their purchases. Last year, sales of confectionery goods reached £375 million and this year spending on chocolates and sweets is expected to rise even higher to £395 million in 2018. Millennials are expected to spend the least, while Generation X spend the most and baby boomers fall in between.
Jellybeans and similar pick-and-mix confectionery are expected to do well this holiday, thanks to the increase in at-home entertaining. In line with this, multinational brand Nestle has re-launched orange Smarties for the season due to ‘overwhelming consumer response’ last year. They have also launched a limited-edition range of orange Smarties Easter eggs.
An Easter egg tasting contest organised by GoodHousekeeping in February saw those catering for specific dietary requirements do well, with a gluten, dairy and soya-free chocolate truffles taking first place. Following consumer trends, Waitrose has launched a dark chocolate avocado Easter egg, which, despite their tight budgets compared with other demographics, has had millennials clearing the shelves. Waitrose stated that the egg became the fastest-selling own-brand egg in the company’s 114-year history.
IBISWorld industry reports used in this article:
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