With the Easter break about to commence, IBISWorld general manager (Australia) Robert Bryant has predicted that this year people will most likely streamline their Easter celebrations, with total retail spending expected to fall by 0.8 percent from last year, amounting a loss of $1.3 billion.
Mr Bryant believes more families will be eating in as opposed to dining out, and cutting back on the amount of money they spend on Easter treats, namely chocolate.
“We’ll see many more families celebrating with a family meal at home… and kids who may have previously received chocolate… may find that the Easter Bunny has gone back to basics this year.”
Dining and beverage sales are expected to drop by as much as 7.8 percent, but hot cross bun sales will rise by 4.1 percent.
There is some positive news, according to Bryant with holding spending only expected to decrease by 0.1 percent, with falling petrol prices and discounted airfares allowing struggling families to afford a local holiday.
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