This year’s St. Patrick’s Day spending is expected to reach US $ 5.3 billion up from last year’s US $ 4.4 billion and tops the previous record of US $ 4.8 billion set in the year 2014, according to National Retail Federation’s annual survey. Americans will spend more than ever as they put on their favourite green outfits to celebrate St. Patrick’s Day this year.
More than 139 million Americans plan to celebrate the Irish holiday, and are expected to spend an average of US $ 37.92 per person, up from last year’s US $ 35.37 and a new record that tops the previous record of US $ 36.52 set in 2015.
“Now that winter is almost behind us and with St. Patrick’s Day falling on a Friday, we will see more Americans getting together to celebrate with friends and family,” NRF President and CEO Matthew Shay, adding, “Retailers should expect a nice boost in sales as consumers purchase apparel, decorations, food and beverages to help make their celebrations special.”
According to the survey, 83 per cent of celebrants will wear green to show their Irish pride, 31 per cent plan to make a special dinner and 27 per cent will head to a party at a bar or restaurant. 23 per cent will decorate their homes or offices in an Irish theme and 15 per cent will attend a private party. In addition, 15 per cent are planning to attend a St. Patrick’s Day parade, especially those living in the Northeast (21 percent).
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“St. Patrick’s Day is a time for consumers of all ages to have fun and celebrate all things Irish whether it is attending a parade, or meeting friends at a bar or restaurant,” Prosper Insights Principal Analyst Pam Goodfellow, adding, “While more Americans are planning to celebrate the shamrock-filled day, expect Millennials to take the lead among the festivities.”
The survey, which asked 7,609 consumers about their St. Patrick’s Day plans, was conducted February 1-8 and has a margin of error of plus or minus 1.1 percentage points.
