Consumers are expected to spend an average of $71.34 for the July 4th holiday, about the same as the $71.23 average in 2015, according to the latest study conducted by the National Retail Federation. Though the average spend is about flat, the NRF says more people, 214 million, plan to commemorate the holiday. Total spending is expected to reach $6.8 billion, a 1.4% increase from last year. Nearly two-thirds (65%) will attend a barbeque or picnic, 43% will watch fireworks or participate in a community celebration, and 12% will attend a parade. The NRF surveyed 6,811 consumers between June 1 and June 7.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below