The trend of consumers spending more money on all types of holidays is continuing, with the National Retail Federation predicting that overall spending on St. Patrick’s Day will grow to $4.7 billion this year. According to NRF’s St. Patrick’s Day Spending Survey, conducted by BIGinsight, the average person will spend $35.27 on green attire, décor for their home and office, and festive food and drinks.
Although St. Patrick’s day is on a Sunday this year, that won’t stop millions of Americans from celebrating. Young adults ages 18-24 are the age group planning the most celebrations (77.3%); however, 35-44 year olds will be the ones spending the most at an average of $41.68. Close behind are adults 25-34, who will spend an average of $41.58.
While St. Patrick’s Day is not a huge “gift” holiday, the weekend date will lend itself to parties, family get-togethers, outings to bars and restaurants and other celebrations. How can your business take advantage of the holiday?
- Offer special St. Patrick’s Day sales or promotions either on the actual day.
- Create St. Patrick’s Day themed decor or window displays for your restaurant, bar or retail location.
- Hold a St. Patrick’s Day contest to celebrate the “luck of the Irish.”
- Consider what customers are likely to be doing to celebrate. Even dinners at home could be made festive if you promote St. Patrick’s Day decor or special foods that your business sells.
- Restaurants can consider increasing their sales by promoting take-out or catering services for St. Patrick’s Day parties this weekend.
- Use social media to ask your customers how they plan to celebrate, and tailor promotions around their plans.