St. Patrick's Day Has Retailers Seeing Green

St. Patrick's Day is coming up, and this year, small retailers may be seeing a little extra green. According to the National Retail Federation's annual St. Patrick's Day survey, the average consumer will spend $33.97 this year on St. Patrick's Day merchandise, up percent from $33.05 in 2010. Overall, spending during the holiday is expected to jump 20 percent from last year, to $4.14 billion, driven primarily by young adults celebrating at bars and restaurants and hosting private parties. According to the survey results, more than 40 percent of 18- to 34-year-olds said they plan to celebrate at a bar or restaurant on March 17, with adults 25 to 34 expected spend the most that day ($41.30). However, retailers may have slightly more competition when it comes to capturing a slice of those spending dollars. Because Easter falls in late April this year, industry experts say March is expected to be a slow month for holiday related sales overall.

"Eager to shake off the winter blues, consumers will look to St. Patrick's Day as their first spring-related celebration, meaning great things for the economy, retailers and restaurants," NRF President and CEO Matthew Shay said in a statement. "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."