American shoppers will spend a record-breaking $5.3 billion on St. Patrick’s Day supplies and items this year, up 20 percent over 2016’s level, according to the National Retail Federation.
More than 139 million Americans plan to celebrate the Irish holiday, spending an average of $37.92 per person, up from last year’s $35.37, the federation said.
“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,” National Retail Federation President and CEO Matthew Shay said. “Retailers should expect a nice boost in sales as consumers purchase apparel, decorations, food and beverages to help make their celebrations special.”
The holiday is most popular among individuals between the ages of 18 and 24, but those between 25 and 34 years old will be the biggest spenders at an average $46.55.
Although St. Patrick’s Day isn’t a major holiday, the Florida Retail Federation said it expected the state’s retailers to see a jump in sales this year.
“We continue to see spending on holidays and celebrations reaching or exceeding record highs, which reinforces the strength of our economy and the confidence that consumers feel,” said Scott Shalley, President & CEO of the Florida Retail Federation. “Even though St. Patrick’s Day isn’t one of the bigger spending holidays, we still expect Florida retailers to see a nice bump in sales, particularly those who offer additional discounts and sales to attract customers.”