St. Patty's Day Spending

I married an Irish lass in 2001 on March 17th. So my wife and I are an exception to the following report:
Consumers Cutting Back on St. Patrick's Day Celebrations This St. Patrick's Day, Americans are more likely to stash any "pot o' gold" they find rather than spend it.

According to the National Retail Federation's St. Patrick's Day Consumer Intentions and Actions Survey, conducted by BIGresearch, people celebrating the Irish holiday will spend an average of $32.80 on decorations, food and beverage and festive attire, compared to an average of $35.04 in 2008. Total spending is expected to reach $3.29 billion.

While young adults are usually eager to celebrate St. Patrick's Day, 18-24 year-old spending is expected to decrease from an average of $42.20 last year to $36.05 this year. According to the survey, 25-34 year-olds will spend the most, with an average of $39.42 per person.

"Increased concern about the economy among young adults has forced many of them to pull back on discretionary spending," said NRF President and CEO Tracy Mullin. "Many Americans will celebrate St. Patrick's Day in small ways with special meals or a few decorations."

Among the small ways Americans will celebrate: 81.9 percent of people said they will don green, one-third will make a special dinner (33.3 percent) and one in five (21.8 percent) will decorate their home or office. While fewer people plan to celebrate the holiday this year (44.1 percent vs. 46.0 percent in 2008), smaller private parties (16.7 percent) and bar/restaurant celebrations (29.6 percent) will still be favorite activities. Attending a party at a bar or restaurant will be particularly popular among the 18-24 (41.3 percent) and 25-34 (43.9 percent) age groups.

(Source: National Retail Federation, 03/03/09)

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