More revelers will deck themselves out in green this St. Patrick's Day, but they'll spend about the same amount of green on their festivities as they did last year, experts say.
While 52.4 percent of Americans are expected to partake in the Irish holiday this year—about 7 percent more than last year—shoppers will spend just under a dollar more on their St. Patty's goodies, on average ($33.97 this year compared to last year's $33.05), reports the National Retail Federation. Still, the holiday could be a big opportunity for retailers with the right mix of inventory to offer party-goers.
"As a non-gift giving holiday, retailers will need to make sure they have the best assortment of merchandise, aiming to attract celebrants looking for decorations, holiday food and even apparel," says Matthew Shay, president and CEO of the NRF.
About 102 million people will celebrate the holiday by donning green attire, 38 million consumers will attend a party and 31 million people will decorate their homes or offices. People ages 24 to 34 will spend the most with an average expense of $41.30, the NRF notes.
"Inexpensive, fun celebrations surrounding St. Patrick's Day will make it easy for consumers of all ages to take part in the festivities," adds Phil Rist, executive vice president of Strategic Initiatives at BIGresearch.
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Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.