Fewer Americans plan to celebrate Independence Day this year, according to the NRF’s annual Independence Day survey, which was conducted by Prosper Insights & Analytics. Still, participation is expected to be the second highest in the survey’s history, at 216 million this year, down 1% from last year’s 219 million. Total spending on food for the holiday is estimated to reach $6.9 billion, down 3% from $7.1 billion in 2017.

Source: NRF/Prosper Insights & Analytics

The expected reduction in participation and related fall in total spending may be attributable to the holiday falling midweek (July 4 falls on a Wednesday this year). According to the NRF’s survey, the average American household will spend $75.35 on food for the holiday this year, slightly more than last year’s average of $73.42.

Source: NRF/Prosper Insights & Analytics

The Fourth of July is a busy time for travel and vacations, and an estimated 13% of Americans, or 31 million people, plan to head out of town for the holiday.Gas prices are higher this year, and 25% of people surveyed said that gas prices would impact their travel plans. That figure is up from 18% last year, but lower than the peak of 59% in 2008, when gas prices were much higher. Among those surveyed, 62% plan to attend cookouts, 43% plan to attend fireworks displays and 12% plan to go to a parade.

Source: NRF/Prosper Insights & Analytics

Patriotic merchandise for the July 4th holiday has declined in popularity since last year. In 2017, 65% of survey respondents said that they owned a flag; this fell to 62% in 2018. Additionally, the percentage of respondents who said that they own patriotic apparel fell from 53% in 2017 to 51% in 2018, and those who said that they own decorations fell from 40% to 38%. The table below highlights consumer holiday spending trends, and shows that July 4th spending ranks just behind Halloween spending. About 27% of Americans plan to purchase additional patriotic merchandise this year. Young adults account for much of that group: the percentage of consumers planning to buy more merchandise jumps to 44% when considering consumers ages 18–24 only.

Source: NRF/Prosper Insights & Analytics

Though the number of consumers planning to celebrate Independence Day this year may be down because the holiday falls mid week, it still presents retailers with a great opportunity to boost sales. The average household plans to spend more than last year, and young adults make up a large part of the consumer base looking to make July 4th purchases.