Happy Bunny Day
Now that Easter is almost here that means that people are going to start shopping for supplies. With consumers increasing the demand of Easter related goods, stores will raise their prices in order to gain a greater profit while satisfying the consumers needs. But stores will also supply more of candy, flowers, decorations and spring gear. Even though consumers might not like how high the prices are that doesn’t stop them from buying to enjoy this holiday.
This year for Easter retail stores are expecting the total revenue to be 17.3 billion on Easter gifts. According to the article Talk Business and Politics it says “Consumers will spend $5.5 billion on food, $3 billion on clothing, $2.7 billion on gifts, $2.4 billion on candy and $1.2 billion on flowers.” This means that an average person will be spending $146 on Easter gifts. With not only this holiday bringing in profit it also leads to a surplus of supplies.
Easter is a great holiday to share with friends and family, therefore buying supplies is a big deal to make this holiday even greater. Not only does buying gifts make you as the consumer happy but also the stores you are buying from creating equilibrium. Even though Easter is a religious holiday 80% of people in the United States celebrate this holiday. Without celebrating people are losing the opportunity cost of spending time with family and friends and eating all the sugar treats.
Ogg, Jon C. "2013 Economic Impact of Easter at $17.2 Billion, Likely Undercounted." 247wallst.com. Apr. 2013. Mar. 2017.
"Retailers expect consumers to spend $17.3 billion on 2016 Easter sales." Talk Business & Politics. 21 Mar. 2016. Mar. 2017.