Monday 20 October 2014

Rub of green worth $5bn for US stores

Brian McDonald

Published 17/03/2014 | 02:30

A man dressed as a leprechaun smiles as he stands beside the dyed green Chicago River during St. Patrick's Day celebrations in Chicago March 15, 2014. REUTERS/Jim Young (UNITED STATES - Tags: SOCIETY ANNIVERSARY TRAVEL TPX IMAGES OF THE DAY)
A man dressed as a leprechaun smiles as he stands beside the dyed green Chicago River during St. Patrick's Day celebrations in Chicago

Wearing the green is now big business, with the total spend on celebrating St Patrick's Day in the US now believed to be almost $5bn (€3.6bn).

And the cost of toasting Ireland's national saint on his special day alone is running at $255m (€183m).

The US National Retail Federation forecasts that spending for St Patrick's Day 2014 should grow to $4.8bn (€3.45bn), up about 2pc from last year.

This includes the total outlay on drink, silly hats and sweaters and a vast assortment of St Patrick's paraphernalia.

In 2012, global market research company, IbisWorld compiled their St Patrick's Day beer consumption statistics.

They forecast that bars and liquor stores would rake in $245m (€176m).

Since then, IbisWorld forecast annual growth for US breweries at 2.1pc, which brings the outlay on booze for this year up to $255m (€183m).

Eight out of 10 of the under 40s will head out to party and 90pc will wear something green.

Across Ireland yesterday a number of Patrick's Day parades were held ahead of the main events today. Among these were a floating parade with 30 cruisers, courtesy of the Boyle River and Carrick-on-Shannon branches of the Inland Waterway's Association of Ireland.

Parades were also held in Carrick on Shannon, Cootehall in Co Roscommon, Clones and Iniskeen.

Irish Independent

Read More

Editor's Choice

Also in Irish News