Americans plan to spend less this 4th of July

In the United States, 4 July is Independence Day. The bank holidays is the occasion for a variety of festivities, including get-togethers with family and friends. But inflation is forcing consumers to spend less than they did on 4 July 2023, due to rising prices.

 

Local media report that recent studies indicate that around 73% of American consumers plan to celebrate 4 July 2024. This is -16.1% compared to 2023, according to Capital One Research. Another study, conducted by Lending Tree, shows that around 1 in 5 Americans (18%) say they regret overspending on previous 4th of July celebrations.

 

According to the NRF (National Retail Federation) study, total spending on food products for the 4 July holiday in 2024 is expected to reach USD 9.48 billion, slightly less than in 2023 (USD 9.5 billion). Spending on beverages, beer and spirits is expected to reach USD 4.02 billion.