Survey: St. Patrick’s Day spending should give retailers a boost
Washington, D.C. -- Total spending on St. Patrick’s Day festivities is expected to hit $4.14 billion this, according to NRF’s 2011 St. Patrick’s Day Consumer Intentions and Actions survey, conducted by BIGresearch. The survey found that 52.4% of Americans will celebrate the Irish holiday, up from 45.2% last year and the most in the survey’s eight year history.
“March is typically one of the slower months of the year in terms of consumer spending, but we expect this year’s celebration to provide a nice boost for companies who are in the business of promoting the holiday,” said Phil Rist, executive VP strategic initiatives, BIGresearch. “
In recent years, restaurants and bars have a upped the holiday spirit as well, hosting parties and serving green beverages. Thirty-eight million Americans (31.2%) will attend a party at a bar or restaurant -- also the highest in the survey’s history. Additionally, 41 million (33.9%) will make a special dinner, 31 million people (25.1%) will decorate their home or office and 23 million (19.1%) will attend a private party.
Young adults 18-24 will be the biggest group attending private parties (33.9%) and adults 25-34 years old will spend the most ($41.30).