This St. Patrick's Day is expected to set spending records in the U.S. Read more about consumer trends for the holiday weekend along with other finance news from the week.

St. Patrick's Day Spending

St. Patrick's Day is celebrated each year on March 17 to honor the anniversary of the death of Saint Patrick, who by the way wasn't Irish. He did, however, incorporate traditional Irish culture into his ministry to existing Irish Christians and converting non-Christians. (Cincinnatti Enquirer)

Consumer Trends

Nearly a third (32%) of U.S. consumers plan to celebrate St. Patrick’s Day this year, per Numerator’s 2024 US Annual Holiday Preview report. Of those, 91% say they expect to buy something for their St. Patrick’s celebration, with food and alcohol being the top items purchased.

Spending for the holiday is expected to set a record this year. The National Retail Federation (NRF) predicts total spending to top a record $7.2 billion, or $44.40 per household. The NRF notes that when the holiday falls on Friday, Saturday or Sunday, participation levels rise. (Talk Business)

Three-in-10 Gen Z respondents plan to purchase apparel or costumes for the holiday, compared to just 16% of all respondents. (Chain Store Age)

According to U.S. News & World Report, while not a major sale holiday, St. Patrick's Day (and the week before) is a pretty good time to find Irish-themed jewelry and other green gifts on sale. Look for the biggest discounts on gear the day after the holiday, when you can stock up on things for next year.

Freebies

If FREE is more your style, some companies are offering no-cost perks for the holiday:

Customers wearing green to Krispy Kreme in-shop or via drive-thru March 15-17 can receive one free O'riginal Glazed Doughnut. (USA Today) 

Jack-in-the-Box is offering a free Oreo® Cookie Mint Shake with any $1 minimum purchase on the Jack app or website on March 17. (Yahoo! Finance)

>> For your classroom: Question of the Day: How many Shamrock Shakes have been bought at McDonald's since they launched in 1970?

In Other News

The chief economist at Moody’s Analytics, Mark Zandi, predicts that the outcome of the November election could ultimately depend on the path of 30-year mortgage rates. “Since homeownership is a key part of the American dream, if it appears unattainable, this will deeply impact voters’ sense of the economy,” said Zandi. (Associated Press)

>> Teach your students about the cost and process of home ownership with the Buying a House mini-unit

The Federal Reserve is expected to leave interest rates unchanged at a two-decade high for a fifth month at next week’s meeting thanks to new data on inflation and unemployment filings (Bloomberg)

>> Want to understand more about the Fed? Complete the On-Demand module: The Fed: Bank of Banks

Bitcoin dropped about 3% from its latest record high of almost $73,798. Overall, Bitcoin and a gauge of the top 100 cryptocurrency tokens are up roughly 60% so far this year. Some say the jump is evidence of speculative froth in global markets. (Bloomberg)

>> Need to brush up on Bitcoin? Complete the On-Demand module: Basics of Bitcoin

About the Author

Hannah Rael

As NGPF's Marketing Communications Manager, Hannah (she/her) helps spread the word about NGPF's mission to improve the financial lives of the next generation of Americans.

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