Fourth of July spending to remain flat

Spending for the Fourth of July holiday is expected to remain relatively flat this year, according to the National Retail Federation.

Photo credit: Getty Images

Photo credit: Getty Images

The retail group said the average family is expected to spend $71.34 on Fourth of July festivities, essentially unchanged from last year’s $71.23.

“Americans are ready to kick-start summer by enjoying Independence Day with family and friends,” National Retail Federation President and CEO Matthew Shay said. “Whether it’s low gas prices or just good weather, more people plan to celebrate this year, and that means more shoppers are online and in stores as they prepare for the festivities.”

A survey conducted on behalf of the retail federation found that more Americans are expected to celebrate the Fourth of July this year, and as a result, total spending for the holiday should grow slightly.

An estimated 214 million people plan to celebrate the Fourth of July, spending a total of $6.8 billion, up 1.4 percent from last year, the federation said.

 

 

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