etailers will be feeling the luck o’ the Irish
this Spring, as consumers hit the stores for
their favorite
green goods. According
to the National
Retail Federation’s
(NRF) 2006 St. Patrick’s
Day Consumer
Intentions and Actions
Survey, consumers
spent an estimated
$2.69 billion
on St. Patrick’s Day —
up significantly from
$1.94 billion the year
before. The average
person will spend $27.94.
“With the popularity of the holiday increasing,
St. Patrick’s day has become a tremendous day for
restaurants and bars, as well as your traditional
retail outlets,” said
NRF President and
CEO Tracy Mullin.
“Even small trinkets
can be big sellers as
consumers respond
favorably to retailers’
special selection of
holiday merchandise.”
The reason for the
large increase in
spending is due in
part to more people
celebrating the holiday.
This year, 43.2 percent of consumers (96.3 million*) will celebrate St. Patrick’s Day, compared
to only 38.5 percent of consumers who felt the
holiday spirit last year. Wearing green remains one
of the most popular ways to celebrate, with 82.4
percent of those surveyed planning to don their
green apparel.
Other ways consumers plan to join in on the festivities
include going to a bar or restaurant
(24.7%,) decorating their home or office (19.9%)
or attending a party (15.9%.) Yet not everyone
plans on heading out, with 31 percent of those
polled planning on making a special dinner at
home.
Consumers of all ages will be enjoying St.
Patrick’s Day this year; however it will be the 25-34
age group that does the splurging, with average per
person spending expected to be $31.64.
“This holiday is definitely a boost for retailers,
thanks to the 25 – 34 year-old age group,” said Phil
Rist, Vice President of Strategy for BIGresearch.
“Restaurants and bars will benefit greatly from this
group’s increased spending power.”
*Total extrapolation of U.S. adults 18+ (222.9 million)
|
