Cracking the Memorial Day Spending Code
March 05, 2018Memorial Day mixes solemnity and celebration in a unique way. Not only is it a day to honor fallen soldiers, but it also heralds the unofficial start to summer and kicks off the grilling season.
About 96% of employers make Memorial Day a paid holiday. Six in 10 consumers grill on Memorial Day, making it the second-most popular grilling holiday (July Fourth is No. 1).
Memorial Day is on Monday, May 28, 2018. To help prepare for those shoppers looking for Memorial Day sales, we provide an overview of what consumers are most likely to buy during the holiday weekend and examine grilling trends.
Dropping Dollars
Consumers sure like to shop on Memorial Day. 41% of Americans are likely to take advantage of Memorial Day deals.
The average consumer plans to spend $78.34 during Memorial Day. The top categories that consumers plan to drop dollars on during the Memorial Day weekend are:
• Mattresses
The average consumer spends $1,536 on a mattress and box spring.
• Appliances
Household appliance consumption is expected to grow 36% from 2014 to 2020.
• Home Goods
Shoppers expect 20% to 90% off on home goods during Memorial Day weekend!
• Auto Parts and Accessories
The average car on the road is 11.5 years old.
• Spring Apparel
Average monthly clothing spend by demographic: ages 25-34 spends $161 monthly on clothes; adults 35-44 spend $209 monthly on clothes; and the average family spends $150 per month.
• Travel
36% of consumers planned to travel for Memorial Day in 2017.
Get Grilling
Seven in 10 U.S. adults own a grill or smoker and most will break it out for Memorial Day weekend. We divide grilling trends into two categories: grilling preferences and top foods to grill on Memorial Day.
The Grill Gospel
Gas or charcoal? Whether they are replacing a grill or specifying why they enjoy it, consumers have clear preferences when it comes to their grills.
The most popular grill types are:
• 64% Gas
• 44% Charcoal
• 9% Electric
• 56% of grills are purchased as replacements
• 29% of grills are first-time purchases
• 83% of grill owners own 3 or more accessories
Top reasons consumers like to get their grill on:
• 72% flavor
• 52% lifestyle
• 40% entertainment
• 33% convenience
• 19% hobby
• 18% flexibility
• 18% health
Favorite Foods
What’s cooking? What’s on the grill may be just as important as what’s under it.
• Burgers
Americans eat about 50 Billion burgers a year.
• Steaks
The average U.S. consumer eats over 53 pounds of beef per person per year.
• Hot Dogs
818 hot dogs are eaten per second on Memorial Day.
• Corn on the Cob is
It’s the most popular side dish on a grill.
• Most popular BBQ sauce flavors:
• hickory
• mesquite
• honey
• spicy-hot
Memorial Day meat sales:
• Beef $778,577,592
• Chicken $362,207,375
• Pork $207,541,912
• Shrimp $75,157,818
• Salmon $44,171,750
• Tuna $2,745,099
Memorial Day produce sales:
• Berries $224,300,016
• Value-Added Fruit $119,280,907
• Tomatoes $111,719,085
• Value-Added Vegetables $68,888,840
• Cherries $62,611,486
• Avocados $55,513,899
• Lettuce $49,546,245
• Corn $37,976,868
• Pineapple $13,051,521