Time to fire up the grill! The overwhelming majority of Americans are gearing up for an Independence Day full of fun and celebrations with family, friends and neighbors.
According to NACS, 87% of consumers plan to celebrate the Fourth of July this year, up from 84% in 2022. The top celebration plans are watching fireworks, followed by grilling/barbecuing and attending or hosting a gathering/party.
To prep for these events, 94% percent of consumers plan to make a purchase specifically for the Fourth. Food items are at the top of shopping lists (83%), followed by alcoholic beverages (47%), non-alcoholic beverages (34%), decorations (22%) and party supplies (20%).
Among those planning to buy alcohol, the categories are up. The top choice is beer (68% plan to purchase for 2023 vs. 62% in 2022), followed by wine (35% vs. 31%), ready-to-drink cocktails (27% vs. 23%) and spirits (27% vs. 23%). Plenty to go around for everyone to raise a glass or two.
Also, AAA is predicting record-setting travel for the July 4 holiday. The association believes 50.7 million Americans will travel 50 miles or more from home this Independence Day Weekend, with domestic travel over the long weekend increasing by 2.1 million people compared to 2022.
However, three-quarters of consumers expect rising prices to impact their Fourth of July spending and will be looking for ways to save money.
Interestingly, there are conflicting reports as to whether or not Fourth celebrations will cost more or less than last year.
While food prices rose by 5.6% over the past year, according to the Bureau of Labor Statistics, numbers crunched by fitness website Total Shape found that the cost of hosting a Fourth of July barbecue is significantly higher than last year due to the spiking cost of foods traditionally eaten on the holiday. Estimates range from state to state, as a barbecue that provides the same meat, sides and two beer bottles per person for 10 people will cost $170.86 in Georgia and just $98.05 in New Jersey.
Meanwhile, the American Farm Bureau Federation says families can expect to pay $67.73 for a party of 10, down 3% from their figures last year. Although cookout staples like hamburger buns, beef and potato salad were up in price this year, chicken breast, lemonade and chocolate chip cookies saw enough price drops to lower the total cost.
Regardless, a large portion of celebrators say they will buy items on sale, prepare budget-friendly foods, use more coupons, shop at dollar or discount stores, switch to store/private label brands, buy smaller items and travel less.
Lucky for consumers, many retailers notoriously offer big sales in the days and even weeks leading up to Independence Day. Certain categories will boast lots of savings during these sales events. The biggest ones to watch include the following:
If you are a retailer, grocer or anyone selling goods or services to American consumers, now is a great time to offer up some sales or discounts. People are out searching for last-minute Fourth of July supplies, with eyes out for those enticing deals.
We wish all of you a safe and happy holiday! Enjoy the festivities!
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