RICHMOND, Va. — Many businesses see green when it comes to St. Patrick’s Day — and not just because of holiday-themed decorations and drinks.
St. Patrick’s Day is expected to generate about $4.6 billion as 127 million Americans celebrate the holiday, according to the National Retail Federation.
While that sounds like a lot, it is slightly lower than last year’s spending for St. Patrick’s Day. Spending last year totaled almost $4.8 billion.
Part of the reason — last year’s spending generated more green as one in three Americans said they’d celebrate by going out to a bar or restaurant. This year, about half of Americans said they’d celebrate at home — theirs, or a party at someone else’s.
Also partly to blame — the holiday falls in the middle of the week, which usually translates into fewer dollars being spent to celebrate than when it falls on the weekend.
The group most likely to spend celebrating: 25-to-34-year-olds, who will spend almost $42.