Retailers’ eyes are smiling
Survey finds more intended celebrants this St. Patrick’s Day than ever before
According to the National Retail Federation, 122 million American adults, or 52.4 percent, plan to celebrate the Irish holiday March 17, up from 45.2 percent last year and the most in the survey’s eight-year history.
Consumers also said they plan to spend slightly more than they did last year, an average of $33.97 compared with $33.05 in 2010. Total spending is expected to reach $4.14 billion.
Matthew Shay, president of the retail federation, said consumers seemed eager to “shake off the winter blues” by going all out for St. Patrick’s Day. That bodes well for retailers and restaurants that will be offering special merchandise, meals and events.
The survey found that the most popular way to celebrate the holiday would be by donning green clothing; 83.3 percent of those celebrating the holiday say they plan to do so.
In recent years, restaurants and bars have upped their holiday spirit, hosting parties and serving green beverages. According to the survey, 31.2 percent are expected to attend a party at a bar or restaurant – also the highest in the survey’s history.
Additionally, 33.9 percent would make a special dinner, 25.1 percent would decorate their home or office and 19.1 percent would attend a private party.
“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 vice president of strategic initiatives at BIGresearch, which conducts the survey for the retail group.
The survey – which polled 8,273 consumers from Feb. 1 to 8 – also found that demographics played a role in who would celebrate St. Patrick’s Day.
Adults ages 18 to 24 are more likely to attend private parties than any other age group, the survey showed, and adults ages 25 to 34 said they would spend the most (an average of $41.30).