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Consumers to spend $2.9b on food, beverage and services over Easter, IBISWorld

According to an IBISWorld report, Australians are set to spend up to $2.9 billion over the Easter holiday period on related food, beverages, confectionery and travel – up 3.4 percent on 2013.

According to general manager of IBISWorld Australia, Karen Dobie, the average Australian will spend $125.34 on Easter-related products. She said that with the increase in spend, consumers are choosing to purchase more boutique products such as fair trade chocolate and craft beers.

“While traditional chocolate brands will contribute the most to sales, there is a continuing trend towards fair trade and organic brands as consumers begin to shop with ethics taking precedence over price”, said Dobie. She also added that chocolate products purchased as gifts will likely favour high-end brands.

The seafood industry is also set to benefit from the Easter holiday period with 3.4 percent annual growth predicted for 2014.

“Over the past decade, Australian palates and kitchen habits have shifted away from simple meat-and-vegetable meals towards more diverse and creative options, spurred on by the popularity of cooking television shows. Seafood is a key category that has benefited, allowing fish, prawns, scallops and more to secure their place on the Australian table – particularly during traditional celebrations such as Easter and Christmas,” said Dobie. 

Another segment that will reap the benefits of the holiday season is the boutique beverage sector with Australians predicted to consume more than double the amount of alcohol at home than they will at pubs and bars.

“The growing trend in the appreciation and knowledge of alcohol will spur many Australians to make more sophisticated selections this Easter, with sauvignon blanc, pinot gris, imported wines and craft wheat beers all appearing on the table”, said Dobie.

“This year, cider is expected to be one of the main beneficiaries of our broadening palates, and is tipped to continue as the fastest growing segment in alcoholic beverages.”

 

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