Fourth of July spending down from 2017
Americans are expected to spend $6.9 billion on food for Fourth of July cookouts and picnics, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insight & Analytics.
Americans are expected to spend $6.9 billion on food for Fourth of July cookouts and picnics, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insight & Analytics. That’s down from last year’s record $7.1 billion as fewer people say they will turn out for the Wednesday holiday but is still the second-highest amount in the history of the survey and per-person spending is up.
“With the holiday falling in the middle of the week, a few less Americans will be free to celebrate and that affects spending totals,” said Matthew Shay, NRF president and CEO. “But those who are celebrating by attending or hosting a cookout or picnic, are actually spending more, and retailers will be ready with red-white-and-blue decorations, apparel, and food.”
According to the survey, more than 216 million Americans (87%) plan to observe Independence Day, down slightly from last year’s 219 million (88%). Nearly 153 million (62%) are planning a cookout or picnic, spending an average of $75.35 per person on food alone, a new record topping last year’s $73.42.