Retailers in the US will be the lucky ones this St. Patrick's Day, as Americans are forecast to spend $5.3 billion on the Irish celebration.
According to the National Retail Federation (NRF) annual survey, organised by consumer research firm Prosper Insights & Analytics, more than 139 million Americans say they will celebrate, spending an average of $37.92 per person.
In 2016, revellers spent $4.4 billion, and in 2014 they shelled out a record $4.8 billion.
"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,” said the president and CEO of NRF, Matthew Shay.
“Retailers should expect a nice boost in sales as consumers purchase apparel, decorations, food and beverages to help make their celebrations special.”
Celebrating 'All Things Irish'
Eighty-three percent said they would green up for the day, while more than a quarter plan to reel and jig at a bar or restaurant. Twenty-three percent will pin up Irish decorations, and 15% will go to a private party.
Food and drink was at the top of the to-do list, with 52% saying they will buy food, beverages (41%), apparel or accessories (28%), decorations (22%) and candy (14%).
“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, cooking an Irish meal, or meeting friends at a bar or restaurant,” Prosper Insights principal analyst Pam Goodfellow said.
Those in the 18-24 range will be most active (with 77% celebrating), but the revelers in the 25-34 demographic will spend the most, at an average of $46.55 each.
The survey polled 7,609 consumers, and was held between 1 - 8 February.The National Retail Federation is the world's largest retail trade association, representing more than 45 countries.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: The European Supermarket Magazine.
