Another holiday… another budget buster! Patriotism ran high this July 4th, as most Americans celebrated the 243rd anniversary of the adoption of the U.S. Declaration of Independence. Independence Day is not just an excuse to travel or have a barbecue, but a day to celebrate our freedom and take time to reflect upon the true meaning of this day.
In total, Americans spent about $6.7 billion on hot dogs, hamburgers and other picnic provisions, according to the National Retail Federation (NRF). This is down from $6.94 billion in 2018 as changes in the economy drive these trends. Here’s a look at some of NRF’s report findings:
- 86% of people planned to celebrate Independence Day 2019
- Each person planned to spend $73.33, with an overall price of $6.78 billion. This is down slightly from 2018.
- 61% celebrated with a cookout, BBQ, etc, 40% celebrated with fireworks and celebration as a community, while 14% planned to travel for the holiday.
- The prices of spending and people celebrating decreased in the past year by $2.02 and 1% respectively.
- Adults are shown to have spent over $1.6 billion on beer, wine, and alcohol.
- Aside from food and drinks, U.S. flags were another hot commodity this holiday, with more than $5 million worth of the Stars and Stripes.
- Americans spent approximately $750 million on fireworks to launch at home
- To join forces with friends and loved ones, 41.4 million people planned to hit the road this past holiday.
- In 2018 the amount of gas purchases was up to 32% above average.
- SO what did these gas grills cook? It’s estimated that 150 million hot dogs, 700 million pounds of chicken, and 190 million pounds of red meat and pork were consumed over the holiday.
By Arianna Novoa
Source: National Retail Federation/PYMNTS.com