BBI Analysis: Independence Insights
Independence Day, a time for patriotism and celebration, is eagerly anticipated by a significant portion of consumers.
Our Analytics team delved into the findings of a consumer survey by Numerator, a market intelligence firm that provides data and insights. They surveyed 2,650 consumers in April 2023 about their shopping and spending plans for this holiday, exploring how people plan to celebrate, their spending habits, and regional highlights across the United States.
An overwhelming majority of Independence Day shoppers, accounting for four-fifths, plan to purchase food during the holiday this year. These insights shed some light on candy's significant role during Independence Day celebrations and the strong consumer demand for food during this festive period.
Among the surveyed consumers, 87% expressed their intention to celebrate Independence Day. Unsurprisingly, two activities stood out as the top choices for revelers: watching fireworks and grilling/barbecuing. These traditional customs capture the essence of the holiday spirit.
Regional Differences
While Independence Day is celebrated nationwide, regional nuances emerge when examining specific festivities. Celebrators in the Midwest demonstrate a higher likelihood of attending public celebrations, fostering a sense of community and shared experiences. In contrast, those in the West lean towards cooking and baking, channeling their culinary creativity to mark the occasion uniquely.
Food Expenditure and Candy Consumption
It is no surprise that food plays a prominent role in Independence Day celebrations. Over four-fifths of Independence Day shoppers anticipate purchasing food this year. Among their food-related purchases, candy claims a notable portion, accounting for 14% of overall spending. Thus, satisfying sweet cravings becomes an integral part of the festivities.
Consistency in Spending
Independence Day shoppers anticipate spending a similar amount in 2023 compared to the previous year. This reflects a level of stability and consistency in consumer behavior. On average, celebrants plan to allocate between $25 and $75 for their holiday celebration, ensuring a memorable and enjoyable experience.
Spending Patterns from Last Year
Among those who celebrated Independence Day last year, two-thirds intend to maintain their spending level this year. However, nearly a fifth of respondents indicated a reduced budget for the holiday celebration, suggesting a potential shift in priorities or economic factors influencing consumer choices.
As Independence Day approaches, the anticipation for celebrations and traditions grows among consumers. The survey findings shed light on the preferred activities, regional distinctions, food expenditure, and spending patterns surrounding this holiday. Whether the consumer watches fireworks, fires up the grill, or enjoys delicious treats, Independence Day continues to unite Americans in commemorating their nation's freedom.
