Americans will spend more than ever to celebrate St. Patrick’s Day this year, according to a holiday study released by the National Retail Federation and conducted by Prosper Insights & Analytics.
The study concluded that spending for St. Patrick’s Day would reach $5.3 billion, which is the highest amount projected in the study’s 13-year history.
More than 139 million Americans plan to celebrate the Irish holiday and expect to spend $37.92 each on average, up from last year’s $35.37. The average spending also set a new record topping the previous high of $36.52 set in 2015. The $5.3 billion total is a dramatic leap from the $4.4 billion consumers said they would spend in last year’s study and tops the previous record of $4.8 billion set in 2014.
The holiday proved most popular among individuals 18 to 24 years old, with 77% of that group planning to celebrate. However, consumers 25 to 34 plan to spend the most money at an average of $46.55.
According to the survey, 83% of St. Patrick’s Day enthusiasts intend to wear green for the occasion, 31% plan to make a special dinner and 27% will celebrate at a party held in a bar or restaurant. At the same time, 23% anticipate decorating their homes or offices in an Irish theme and 15% expect to attend a private party.
The study found that 52% of celebrants will purchase food, 41% beverages, 28% apparel or accessories, 22% decorations and 14% will buy candy. Of those making purchases, 39% will visit grocery stores, 29% discount stores, 21% bars/restaurants and 18% department stores.
“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 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.”