Last year saw an increase in Fourth of July spending as consumers were looking forward to one of the first opportunities for a family gathering since the start of the COVID-19 pandemic. However, consumers are looking to a more laid back Fourth of July celebration in 2022 as inflation grows and the possibility of a recession looms.
Money saving strategies consumers plan on employing for the upcoming holiday include preparing more budget-friendly meals (37%), using more coupons (36%) and switching to store or private-label brands (26%). Twenty-four percent of consumers plan on cutting back on decorations and 29% plan on cutting back on fireworks and eating out. Numerator’s 2022 Independence Day survey was conducted in early June among 1,259 individuals.
