What Two Holidays Excluding Christmas Generate The Most Money In The U.S. Each Year?
In this article, we will talk about the question 'what two holidays excluding Christmas generate the most money in the U.S. each year?'. Holidays are a special time of year for many people, and they often involve spending money on gifts, decorations, and travel. In the United States, two holidays that generate a significant amount of money each year are Mother's Day and Valentine's Day.
According to data from the National Retail Federation, the two holidays that generate the most money in the United States each year, excluding Christmas, are Valentine's Day and Mother's Day. These holidays have become major commercial events, with consumers spending billions of dollars on gifts, decorations, and other holiday-related items.
Which US Holiday Makes The Most Money?
Mother's Day and Valentine's Day are two holidays that generate significant amounts of money in the United States each year. Valentine's Day is a holiday that celebrates love and affection. It is typically observed on February 14th and is marked by the exchange of cards, flowers, and gifts between romantic partners.
Mother's Day and Valentine's Day are popular holidays for businesses, with many companies offering special promotions and products related to the holiday. For example, florists, chocolatiers, and jewelry stores often offer special deals on Valentine's Day and Mother's Day, while costume stores, party supply stores, and candy manufacturers see a surge in sales around Halloween.
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Valentine's Day Spending
Valentine's Day spending was predicted to exceed $23.9 billion in 2022, up from $21.8 billion in 2021 and the second-highest year on record, according to the National Retail Federation and Prosper Insights & Analytics' annual poll.
More than half (53%) of US consumers intended to celebrate the holiday in 2022, up from 52% in 2021. Given the current condition of the epidemic, more than three-quarters (76%) of those celebrating believe it was important to do so.
The survey found that customers anticipated spending an average of $175.41 per person on Valentine's Day presents this year, up from $164.76 in 2021. The rise comes as many people plan to spend more money on significant others or spouses.
This Valentine's Day, candy (56 percent), greeting cards (40 percent), and flowers (37 percent) remained the most popular gift items. Nearly one-third (31%) of respondents expected to give an "evening out" this year, up from 24% in 2021 and just slightly lower than pre-pandemic levels, for a total of $4.3 billion.
Almost a quarter (22 percent) chose to give jewelry as a gift to someone special. Total jewelry spending was expected to be $6.2 billion, up from $4.1 billion in 2021 and the most in the survey's history.
Demand for experience presents, such as concert or athletic event tickets, has also returned to pre-pandemic levels, with 41% stating they would "love to receive a gift of experience," up from 36% last year.
Forty-one percent of Valentine's Day shoppers went online, followed by 32 percent who went to department stores, 28 percent who went to bargain stores, 18 percent who went to local small businesses, and 17 percent who went to flowers.
The poll of 7,728 adult consumers in the United States was performed from January 3 to 11, with a margin of error of 1.1 percentage points.
In the National Retail Federation 2019 report, Americans spent an estimated $27.6 billion on Valentine's Day in 2019. This includes spending on gifts such as flowers, chocolate, and jewelry, as well as dining out and other experiences.
Mother's Day Spending
According to the annual consumer poll by the National Retail Federation and Prosper Insights & Analytics, Mother's Day spending hit $31.7 billion this year, up $3.6 billion from 2021's record spending. Mother's Day is observed by approximately 84 percent of individuals in the United States.
Consumers spent $25 more on Mother's Day purchases this year, with a record average of $245.76 planned. Jewelry purchases and special trips such as supper or brunch are driving this year's expenditure increases, setting a record for average spending in both categories in the survey's history.
There was also a noticeable increase in the number of shoppers looking for non-wrapped items. Experience gifts, such as a concert or athletic event tickets, were given by 27% of Mother's Day shoppers, up from 23% last year and the highest since NRF began tracking this category in 2016.
More than half of consumers (57%) intended to spend an average of $40.90 on a special occasion such as supper or brunch, indicating a continued post-pandemic emphasis on spending quality time with loved ones.
Greeting cards and flowers remain popular gift categories, with 75% of shoppers wanting to purchase greeting cards and 72% preferring to purchase traditional Mother's Day bouquets.
Shoppers continue to prioritize finding meaningful Mother's Day gifts. Finding a gift that is distinctive or different (46%) and creating a special memory (41%), are the most crucial elements. More than one-third (36%) want to make holiday purchases online. Another 30% of consumers want to shop at department stores, 27% at specialty stores, and 23% at local small businesses.
Furthermore, 39 percent of shoppers were interested in gifting product subscription services like Birchbox or Stitch Fix, which would extend the gift-giving experience beyond Mother's Day.
The survey of 8,574 customers was done between April 1 and 11, 2022, with a margin of error of 1.1 percentage points.
Back in 2019, Americans spent $25 billion on Mother's Day. Most of the money spent on this holiday goes towards jewelry and special outings, with estimates reaching $5.1 billion and $4.6 billion respectively. People aged between 35 and 44 tend to spend the most money on Mother's Day
It is worth noting that while Mother's Day and Valentine's Day generate significant amounts of money in the United States each year, they are not the only holidays that drive economic activity. Other holidays, such as Easter and Halloween, also generate significant amounts of spending and contribute to the economy.
In 2022, back-to-college spending reached $1,199.43, while winter holiday spending reached $997.73 in 2021. Back-to-school spending in 2022 reached $846.35, and Mother's Day holiday spending reached $245.76. Easter day spending reached $169.79 in 2022.
People Also Ask
Which Holiday Makes The Most Money?
In the US alone, Christmas holidays made the most money in 2020 with $777.3 billion in sales.
How Much Money Is Generated From Valentine's Day?
In 2022, the second-highest year on record, Valentine's Day spending was anticipated to exceed $23.9 billion, up from $21.8 billion in 2021.
What Are The 2 Biggest Holidays?
The most widely observed holidays in the United States are Thanksgiving, Veterans Day, and Mother's Day. Thanksgiving received an 80 percent popularity rating in a third-quarter 2022 study, followed by Veterans Day and Mother's Day with 76 percent each.
In conclusion, the answer to the question 'what two holidays excluding christmas generate the most money in the u.s. each year?' is Mother's Day and Valentine's Day. These holidays have become commercialized, with consumers spending billions of dollars on gifts, decorations, and other holiday-related items
Direct spending on these holidays also has an indirect economic impact through the production and sale of holiday-themed items and the hosting of events and parties. Other holidays, such as Easter and Halloween, also contribute to the economy through consumer spending and the stimulation of economic activity.