Special events are potential goldmines for retailers - but sneeze and you'll miss them. Next week is St Patrick's Day and many people will celebrate or recognise it - and not just those claiming some distant Irish heritage as an excuse to drink green beer. In the National Retail Foundation's annual survey into consumer spending, it's predicted that US consumers will spend over $5.3 Billion (yes - BILLION) for the day. That's a lot of beer... or is it? What can retailers expect in 2017? Here are some things to consider.
IT'S FRIDAY!
A considerable jump in spending is expected with the date falling on a Friday this year. End of the week = more celebration. Whether people are heading out or having something at home, a Friday means the fun is extended. At many companies, it's also casual Friday, so green fashion will get more of a workout.
IT'S NOT ALL ABOUT BEER
As shown in the attached graph, 1 in 4 people plan on going to a venue. However, 4 in 5 are dressing up in some way. For some, that may be a silly hat - but others will be looking for work-appropriate wear that fits the theme. Fashion retailers... get busy! Almost a quarter of people surveyed also plan on decorating their home or office and one in 6 are at a private party. Decorations are an obvious sell - but also consider more regular items for dinner party decoration, such as tablecloths, serviettes, candles, or disposables such as plastic plates and cups. Green, green, green!
HOW DO I MERCHANDISE?
Be flexible! Unlike other events, the lead-in period to St Patrick's is very short. We plan Christmas, but doing something for St Pat can be an impulse buy. Plant the seed with simple signage. Dust off your green-coloured stocks onto a temporary off-shelf display.
Selling food and drink? Put together a St Paddy's Shopping List for your customers with a guide on how to find each product. It's the one day a year someone like me is looking for green food colouring!
Whatever you're doing, make it fun - and have a happy and safe celebration yourself.
Author profile
Steve Nelson believes in incredible retail spaces that sustain communities. Steve is a Retail Display specialist, who has worked with iconic retailers across the globe. As leader of Euroswift Retail Creations in Australia, his focus is delivering solutions and techniques that help retailers develop dexterity at the shop floor, to predict the needs of their local community and react rapidly. Connect with Steve on LinkedIn
