3 On Your Side: St. Patrick's Day Spending
By Jim Donovan
PHILADELPHIA (CBS) – The wearing of the green won't translate to as much green for retailers this St. Patrick's Day. 3 On Your Side Consumer Reporter Jim Donovan takes a look at some of the reasons consumers may not be as willing to splurge.
One hundred twenty-seven million Americans say they'll celebrate St. Patrick's Day this year. That's according to an annual survey by the National Retail Federation. Total spending is expected around $4.6 billion. Slightly lower than last year's estimated total of almost $4.8 billion.
Last year's spending got a boost when about one-in-three Americans said they'd go out for the holiday and celebrate at a restaurant or bar. This year that number is slightly lower, and about half of Americans say they'll mark the holiday at a private home, either by attending a party or by enjoying a special dinner from their own kitchen.
Big St. Patrick's Day celebrations are usually a tough sell when the holiday falls on a weekday, as it does this year. Nonetheless, leading the way among St. Patrick's Day celebrations will be consumers ages 25 to 34, who will spend almost $42 dollars on the holiday.