Almost two-thirds (63%) of the UK are expected to spend money celebrating Easter this year, parting with a total of £892 million on things like gifts and chocolates.
The average spend is set to be £26.85 per person according to the projections from personal finance comparison site, finder.com, which analysed trends from 4 year’s worth of research.
Separate research suggests that 80 million eggs are sold in the UK every year*, so Finder estimates that over £415 million could be spent on Easter Eggs alone this year, based on an average cost of £5.18 per egg.
As well as those who plan to fork out on Easter this year, a further 12% of the population are projected to celebrate Easter without parting with their cash, taking the total number of people who will mark the event in some way to 75%.
These figures are all higher than last year, when 62% of Brits spent an average of £24.86 on each, meaning a total of £810 million was spent on Easter in 2021. One factor behind the increase in money spent is the rising cost of goods, with inflation (CPI) rising by 6.2% in the 12 months to February 2022.
However, 2020’s total of £902 million, where the average spend per person sat at £28, was higher than both years. Before the COVID-19 era, the average spend per person in 2019 was £30 – the highest performing year to date since Finder started carrying out the research in 2018.
For more information and to see the full breakdown of the research, visit: https://www.finder.com/uk/
Methodology
Using figures from nationally representative surveys (2,000 adults aged 18+) Finder commissioned between 2018 – 2021, Finder’s analysts estimated the total projected spend for 2022 based on the average percentage change in the figures over the 4 years. The inflation data was sourced from the Consumer Price Index (CPI) via ONS, which said that it rose 6.2% in the 12 months to February 2022, and this was applied to all projections.
The figure around easter eggs sold each year was sourced from Cadburys*, and the average cost per egg was calculated by Finder analysts who collected prices for 8 brands of easter eggs from a range of leading supermarkets.
