St. Patrick's Day spending to hit record $5.9 billion

By Personal FinanceFOXBusiness

Morning Business Outlook: 3/17/17

Americans expected to spend a total of $5.3 billion this St Patrick's Day

Americans will spend a record amount to celebrate St. Patrick’s Day this year, according to the National Retail Federation.

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An annual survey from the NRF revealed that U.S. consumers plan to spend $5.9 billion, beating the previous record of $5.3 billion set last year. Over 149 million adults plan to celebrate St. Patrick’s Day, and spending will hit $39.65 per person, the report added.

“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,” NRF President and CEO Matthew Shay said.

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The holiday is most popular with young adults between 18 and 24 years old, with 77% saying they plan to take part in St. Patrick’s Day festivities. Americans between the ages of 35 and 44 will be the biggest spenders, shelling out $45.76 each.

The NRF said 31% of consumers are planning a St. Patrick’s Day dinner, while 27% will celebrate at a bar or restaurant and 9% will host their own party. Fifteen percent of respondents said they will attend a parade.

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