WASHINGTON – Americans plan to spend a record $5.9 billion to celebrate St. Patrick’s Day this year, according to the annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. That’s the highest level in the survey’s 14-year history, up from last year’s previous record of $5.3 billion.
“With winter hopefully winding down over the next few weeks, consumers are ready to start celebrating spring with St. Patrick’s Day,” NRF President and CEO Matthew Shay said in a press release. “The holiday falls on a Saturday this year, so Americans will have more time to splurge a little as they get together with friends and loved ones for a day of festivities.”
The survey found more than 149 million U.S. adults plan to celebrate the March 17 Irish holiday, up from last year’s approximate 139 million. Consumers are expected to spend an average of $39.65 per person, up from last year’s previous record of $37.92. The holiday is most popular among individuals between the ages of 18 and 24, with 77% celebrating, but those ages 35 to 44 will be the biggest spenders at an average of $45.76.
“Compared to other spending holidays, St. Patrick’s Day is less about giving gifts and more about having fun with friends and family regardless of the budget,” Prosper Executive Vice President of Strategy Phil Rist said. “With more Americans celebrating the shamrock-filled day, we expect consumers will enjoy their favorite green beverage and apparel, attend events around their community and decorate their homes with lucky four-leaf clovers.”