July 4 spending estimated to increase more than 21%

by Kim Souza (ksouza@talkbusiness.net)

Inflation pressures aren’t expected to curtail July 4th spending. The National Retail Federation (NRF) predicts spending will be $9.5 billion, up 21.7% from $7.8 billion last year. The increase, if realized, comes from more people celebrating and higher overall prices.

Average spending, according to the NRF, is $93.34 and will mostly be on food items and alcohol, which is up from an $84 average last year.

Numerator reports more consumers are celebrating this year but noted that 75% will look for ways to save money as gasoline prices are again above $3 per gallon.

https://talkbusiness.net/2023/06/july-4-spending-estimated-to-increase-more-than-21/