June 12, 2024

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Inflation won’t keep Americans from spending cash on Memorial Day weekend – even if it’s more expensive than it once was.

The average cost of a Memorial Day cookout this year comes to about $30, about a 10% increase when compared to 2023, data from WalletHub found.

But even so, the holiday stands to see higher spending than it did last year, according to a survey by data research firm Numerator. The platform’s survey includes verified purchase data and sentiment responses from over 5,500 U.S. consumers.

Whether it’s attending a celebration, traveling, or hosting others at home by the grill, U.S. consumers are planning to eat. Of those surveyed, 83% said they plan to purchase food. Meanwhile, 44% said they have plans to purchase alcoholic beverages, such as beer, wine, and canned cocktails.

Grocery stores stand to benefit the most during Memorial Day weekend, Numerator’s report found, noting that 65% of respondents plan to make a visit to their local grocer. That may be due in part to a slight decline in grocery prices, which finally started to come down after being up the previous two months. Meanwhile, about 47% of consumers said they plan to visit a big box retailer like Walmart and Target during the Memorial Day weekend.

Ahead of the holiday, Target said it would be marking down prices on thousands of items, in a bid to save consumers “millions of dollars.” That came shortly after Walmart said last week that even its higher income consumers were flocking to the retailer to make their grocery purchases.

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