St. Patrick's Day Leads to Record Spending of Green
|
|
. CREDIT: St. Patrick's Day Image via Shutterstock |
This St. Patrick's Day, people will be both wearing and spending green. According to a new survey, 54 percent of Americans plan on celebrating the holiday in some way this year. Those celebrations will translate into estimated spending of $4.55 billion, which represents a record amount for the holiday.
Additionally, the 54 percent of people who will celebrate the holiday this year represents a record in the nine-year history of the survey. According to survey, conducted by the National Retail Federation and BIGinsights, the average person will spend $35 on the holiday this year.
"As a non gift-giving holiday, St. Patrick’s Day really brings out the fun in consumers every year, knowing they can splurge on gimmicky accessories like pins and buttons for their clothes and even home decor items to put their entire family in a festive spirit," Pam Goodfellow, BIGinsight’s consumer insights director, said.
[For Restaurateurs, It Pays to be Irish on St. Patrick’s Day]
The most popular way people will celebrate this year is by wearing green — 82 percent of people plan to ring in the holiday this way, according to the survey. Just over 30 percent of people will commemorate the holiday by cooking a special dinner, while 28 percent of people will be going to a bar or restaurant for a party. Twenty-four percent of people plan on decorating their homes, while 19 percent will be attending a private party.
"Thanks to a little 'luck', consumer spending for St. Patrick’s Day is expected to be at a record high," said Ellen Davis, vice president of public relations for the National Retail Federation. "With the holiday falling on a Saturday this year, we're noticing that shoppers intend to indulge themselves with a little bit more of the Irish heritage – from going out to pubs or restaurants, donning themselves with green accessories, or an Irish-themed dinner at home."
Reach BusinessNewsDaily staff writer David Mielach at Dmielach@techmedianetwork.com. Follow him on Twitter @D_M89.