WASHINGTON DC: American consumers who plan to celebrate St Patrick's Day on 17th March are expected to spend a record $5.3bn this year, according to a new industry report.
The Nation Retail Federation (NRF), the world's largest retail trade association, has been looking into US spending habits around the Irish holiday for 13 years.
Based on a survey of more than 7,600 consumers that was conducted by Prosper Insights & Analytics, NRF said spending this year is on course to be an all-time high.
At $5.3bn, the total forecast to be spent at the end of next week is up "dramatically" from last year's $4.4bn and tops the previous record of $4.8bn set in 2014.
More than 139m US consumers intend to celebrate St Patrick's Day, the survey revealed, and the average spend per person is expected to come to $37.92, although consumers aged 25 to 34 will be the biggest spenders at an average $46.55.
"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 Matthew Shay, NRF's President and CEO.
"Retailers should expect a nice boost in sales as consumers purchase apparel, decorations, food and beverages to help make their celebrations special."
Specifically, the survey found that around half (52%) of those planning to celebrate the holiday intend to buy food, followed by beverages (41%), apparel or accessories (28%), decorations (22%) and candy (14%).
Of those planning to make purchases, 39% will shop at grocery stores, while 29% will go to discount stores, with bars/restaurants and department stores attracting another 21% and 18% respectively.
Four in five (83%) say they will wear green to show their Irish pride, 31% plan to cook a special dinner, 27% will go to a party or a bar or restaurant, while 15% plan to attend a St Patrick's Day parade, rising to 21% among Americans in the Northeast.
The Nation Retail Federation (NRF), the world's largest retail trade association, has been looking into US spending habits around the Irish holiday for 13 years.
Based on a survey of more than 7,600 consumers that was conducted by Prosper Insights & Analytics, NRF said spending this year is on course to be an all-time high.
At $5.3bn, the total forecast to be spent at the end of next week is up "dramatically" from last year's $4.4bn and tops the previous record of $4.8bn set in 2014.
More than 139m US consumers intend to celebrate St Patrick's Day, the survey revealed, and the average spend per person is expected to come to $37.92, although consumers aged 25 to 34 will be the biggest spenders at an average $46.55.
"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 Matthew Shay, NRF's President and CEO.
"Retailers should expect a nice boost in sales as consumers purchase apparel, decorations, food and beverages to help make their celebrations special."
Specifically, the survey found that around half (52%) of those planning to celebrate the holiday intend to buy food, followed by beverages (41%), apparel or accessories (28%), decorations (22%) and candy (14%).
Of those planning to make purchases, 39% will shop at grocery stores, while 29% will go to discount stores, with bars/restaurants and department stores attracting another 21% and 18% respectively.
Four in five (83%) say they will wear green to show their Irish pride, 31% plan to cook a special dinner, 27% will go to a party or a bar or restaurant, while 15% plan to attend a St Patrick's Day parade, rising to 21% among Americans in the Northeast.
Data sourced from NRF; additional content by Warc staff
