IBISWorld general manager (Australia), Karen Dobie, said spending on fish and seafood will be the highest growth area this Easter. Spending is expected to increase 5.3 per cent from last year to reach $22.3 million, reflecting Australia's focus on healthier eating.
Overall, food and beverages still account for the largest proportion of spending over the Easter break – and this year it appears there will be plenty of seafood barbies on the long weekend.
As per tradition, Good Friday will see Australians typically abstain from meat and opt for seafood dishes instead. Other factors contributing to the growth in seafood spending include the concerted promotion of the health benefits of seafood, ongoing product innovation and falling prices due to increasing imports.
Unlike some holidays, such as Christmas, Easter doesn't come with a hefty price tag. While Australians are forecast to spend $875.1 million over the four-day break, this equates to around $37.70 per person.
Dobie said that while Easter spending tends to be significantly lower than the Christmas holiday, this has helped spending remain relatively stable despite global economic uncertainty over the past five years.
|
Category |
Spending 2011 ($million) |
Spending 2012 ($million) |
Growth ( per cent) |
|
Fish and seafood |
21.2 |
22.3 |
5.3 |
|
Holidays and travel |
195.5 |
203.7 |
4.2 |
|
Chocolate and confectionary |
171.4 |
176.5 |
3.0 |
|
Food and beverages |
330.0 |
339.6 |
2.9 |
|
Alcoholic beverages |
129.8 |
133.0 |
2.5 |
Travel
Holidays are still on the agenda this Easter break, however Australians are anticipated to stay closer to home. Australians will still make the most of the four public holidays in a row, but many will eschew expensive getaways for driving trips closer to home, choose interstate rather than overseas travel or stay put and finish DIY jobs around the house.
Dobie said: "Last year Australians made the most of the five-day Easter long weekend, which fell in the midst of the school holidays, to head interstate or even overseas to nearby destinations such as Fiji, New Zealand and Bali, driving up travel spending 4.2 per cent. This year we're projecting a similar rise in travel spending to $203.7 million – but domestic travel will prove more popular."
Family get-togethers will remain a priority for many Australians across the Easter weekend, and despite high petrol prices, Dobie said Australians will not be deterred from taking advantage of the long weekend.
"Many will extend the break, with some taking the week before or after Easter to enjoy a ten-day holiday for just four days of annual leave. Domestic airlines will enjoy one of their busiest periods, with Melbourne, Sydney and Brisbane expected to be the most popular options for flyers.
"Easter is also a popular choice for weddings and christenings, with families using the longer break to extend celebrations," Dobie added.
The Easter table
While seafood is the standout winner this year, Australians will spend $133 million on alcohol, up 2.5 per cent from last year.
Wine, particularly imported varieties, is expected to be the alcoholic beverage most favoured at celebratory Sunday lunches around the country. Other tipples of choice will include cider and boutique beers – driven by newly diversified product ranges.
Total spending on food and non-alcoholic beverages will rise by 2.9 per cent to $339.6 million.
Broadly speaking, Dobie said the retail sector would only enjoy moderate spending growth over the Easter break. This will be despite many retailers not traditionally linked with Easter (such as department stores) attempting to capitalise on the holiday by offering seasonal sales on clothing, accessories and electronics.
