Consumers are looking forward to celebrating the Fourth of July with family and friends, but they probably won’t be happy about having to spend more on groceries for a quintessential American holiday.
Columbus, OH (PRWEB) June 28, 2011
According to the annual National Retail Federation/ BIGresearch® Independence Day survey, 64.4% of Americans plan to celebrate July 4th with a cookout. And a special BIGinsight analysis shows that consumers’ wallets will likely feel a bit lighter than they did last year after they make their grocery purchases for the holiday.
It’s estimated that an average cookout will cost Americans $61.16 this year, up 12% from $54.62 in 2010. With 38 million cookouts nationwide expected, consumers are projected to spend a total of $2.3 billion on food for the holiday cookout, based on a shopping list of cookout staples.
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“Consumers are looking forward to celebrating the Fourth of July with family and friends, but they probably won’t be happy about having to spend more on groceries for a quintessential American holiday,” says Pam Goodfellow, Consumer Insights Director, BIGresearch. “Rising food costs are forcing consumers to spend more on the necessities and in turn, pressuring them to make more practical purchases in areas such as apparel, dining out and vacations.”
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