NRF predicts a green St. Patrick’s Day for retailers
The allure of St. Patrick’s Day remains consistent for consumers, according to the National Retail Federation (NRF).
Consumers plan to spend $40 on average for St. Patrick’s Day this year, according to the annual survey conducted by NRF and Prosper Insights & Analytics. Although this is a fraction of the average $162 consumers planned to spend on Valentine’s Day in February, the average amount consumers spend on St. Patrick’s Day has stayed steady.
All consumer spending for St. Patrick’s Day is expected to total $5.61 billion this year, down slightly from $5.92 billion in 2018. However, retailers digging for buried treasure will be happy to discover that NRF data shows 55% of all consumers plan to celebrate St. Patrick’s Day this year. This figure includes more than 70% of consumers younger than 35, a little more than 50% of consumers age 30-54 and a little less than 40% of those 55 and older.
Consumers under 35 are most likely to purchase apparel, food and beverages. Approximately one-third (34%) of those under the age of 35 plan to buy some of their St. Patrick’s Day items at discount stores.
Men and women demonstrate different preferences for St. Patrick’s Day spending. Eighty-four percent of men and 77% of women will wear green, while 12% of women and 7% of men will host a party. Men are more likely than women to attend a private party (20% vs. 13%), or attend a party at a bar or restaurant (32% vs. 23%). Women are more likely to decorate a home or office (29% vs. 19%) or make a special dinner (34% vs. 25%). Men (16%) and women (14%) are planning to attend a parade in similar percentages.
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