St. Paddy’s spending is expected to break records this year, despite economic struggles. It could be that consumers need a fun distraction, and it will take shape in the form of four-leaf clovers, green beer and gold coins — whether real or chocolate!
St. Paddy’s spending on the rise
As the years go by, more people participate in St. Patrick’s Day. Three out of five consumers plan to celebrate, despite the fact it falls on a Tuesday this year.
Previously, this level of participation was only seen of it landed on a Saturday.
As interest in celebrating increases, so do the dollars dedicated to the Irish holiday. The National Retail Federation expects spending to total to $7.7 billion, a new record from $7 billion last year.
St. Paddy’s spending trends
Naturally, the most popular categories of St. Paddy’s spending are groceries, food and beverages. We can already smell the Guinness!
The average spend per person is estimated at $47.45. According to the NRF’s St. Paddy’s spending survey, 25% of people plan on attending a party at a bar or restaurant, and 27% are hosting a festive dinner at home.
Notably, this year’s data shows a record number of consumers intending to host a party. Interest in attending a private party is the highest since the pandemic.
Weather patterns will have a strong impact on how the day will be spent. Cooler weather will likely push people to stay inside. Warmer weather will encourage more participation in outdoor activities, like parades, and attending parties at bars/restaurants.
How are you celebrating St. Patrick’s Day? Let us know in the comments!
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