Consumers are also expected to spend an average of $39.65 during the Irish holiday.
NORTH AMERICA–U.S. consumers are expected to spend a record $5.9 billion on St. Patrick’s Day celebrations this year, according to the National Retail Federation.
The NRF also found that consumers are expected to spend an average of $39.65 per person, up from last year’s previous record of $37.92, and while the holiday is most popular among consumers 18-24 years old, individuals 35-44 years old are expected to spend the most at an average of $45.76.
“With winter hopefully winding down over the next few weeks, consumers are ready to start celebrating spring with St. Patrick’s Day,” says Matthew Shay, president and chief executive officer, NRF. “The holiday falls on a Saturday this year, so Americans will have more time to splurge a little as they get together with friends and loved ones for a day of festivities.”
Furthermore, the NRF’s survey found that 83 percent of those celebrating will wear green, 31 percent plan to make a special dinner and 27 percent will celebrate at a bar or restaurant. In addition, 27 percent will decorate their homes or offices, 16 percent will attend a private party and 9 percent will host a party.
In terms of purchasing, the NRF reported that 50 percent of consumers will purchase food, 41 percent beverages, 31 percent apparel or accessories, 26 percent decorations and 16 percent candy. Of those making purchases, 38 percent will stop by grocery stories, 31 percent will shop at discount stores, 20 percent at department stores and 19 percent at bars or restaurants.
“Compared to other spending holidays, St. Patrick’s Day is less about giving gifts and more about having fun with friends and family regardless of the budget,” says Phil Rist, executive vice president, strategy, Prosper Insights & Analytics. “With more Americans celebrating the shamrock-filled day, we expect consumers will enjoy their favorite green beverage and apparel, attend events around their community and decorate their homes with lucky four-leaf clovers.”