Saint Patrick’s Day is a big holiday for retailers, restaurants, and companies in the beverage alcohol space.
More than half of Americans will celebrate St. Patrick’s Day 2016 and spend $4.4 billion dollars.
St. Patrick’s Day is celebrated differently internationally, requiring a deep understanding of cultural relevance. In Denver, home to GoSpotCheck, festivities and an annual parade take place the weekend before the holiday. However, in New York City, the parade will be on March 17th, Saint Patrick’s Day. For retailers, concerns surrounding retail execution include merchandising, display execution and effective marketing. No matter the location, on St. Patrick’s Day retailers must have products and inventory stocked – including clothing and decorations – ready in the case of sell-outs.
Saint Patrick’s Day will likely boost sales at restaurants, bars, and other food-and-drink establishments across the United States. According to the National Retail Federation, 3 out of 10 American adults are expected to celebrate the holiday at a bar or restaurant. If certain dishes on the menu have an Irish background, there is a chance they will be ordered more than normal. Running out of green beads and “Kiss Me, I’m Irish” shirts may not be a concern for restaurants, but running out of ingredients certainly will be. In fact, there is a 70% increase in cabbage shipments during the week of St. Patrick’s Day.
Beverage alcohol companies have another set of challenges. Liquor stores need to be stocked with the correct products, and the products need to be displayed in a manner relevant to the holiday. Various drinks are particularly high-sellers on Saint Patrick’s Day, and ingredients for Irish-themed cocktails must be convenient for thirsty customers.
Saint Patrick’s Day is (no surprise) especially good for the legendary beer brand Guinness, owned by the world’s largest supplier: Diageo. Astoundingly, 13 million pints of Guinness will be consumed worldwide on Saint Patrick’s Day. That’s enough beer to fill 60% of the Empire State Building.
During a week when sales will flow like green water through the Chicago River, maximize consumer spending in your store. The right mobile data collection tool is paramount for retailers, restaurants, and alcohol distributors and suppliers to monitor display compliance and retail execution. Is your green merchandise in the perfect place? Is the Baileys Irish Cream next to the Guinness?