Despite economic turbulence, a pot of gold appears to be at the end of the rainbow for St. Patrick’s Day spending in America.
Last year, St. Patrick’s Day generated a record $7.2 billion in the US.
According to the National Retail Federation (NRF), total consumer spending on the Irish-inspired holiday has neared and exceeded between $5 and $6 billion since 2017.
The NRF has been conducting an annual St. Patrick’s Day survey for over a decade.
This year, 61% of survey participants plan to celebrate and spend an average of $43.64 on food, beverages, costumes, and decorations.
Unsurprisingly, a significant amount goes towards Irish-themed food and drinks, namely, green beer.
An estimated 14 million pints of Guinness are consumed on St. Patrick’s Day worldwide. That’s 819% more than on the average day.
In 2018, beer sales shot up 174% during St. Patrick’s Day week. 153% more spirits are also sold compared with daily averages.
Parties hosted by pubs, restaurants and bars can offer a big boost to the hospitality industry.
Party attendees seeking leprechaun costumes, plastic four-leaf clovers and other green-gold trinkets also give attention to drug markets, discount stores and craft shops.
Oh and did you know that a traditional “leprechaun’s” pot of gold would be worth approximately US$2.65 million today (based on the current value of gold).
How you do celebrate St. Patrick’s Day?
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