July 4 was widely targeted as the country’s grand reopening, and the accompanying celebrations are providing an exclamation point.
No less an authority than the National Retail Federation’s Independence Day Data Center reported a 10 percent increase excitement: 86 percent of Americans surveyed plan to celebrate the holiday this year, up from 76 percent last year.
How do those plans translate into dollars?
WalletHub – which specializes in personal finance – provided a breakdown of Americans’ Independence Day spending, and the alcohol statistics really stand out.
Most Fourth of July blowouts include various cocktails, but these festivities are at elite levels.
Americans are shelling out more than $1.4 billion on beer and wine, WalletHub said, and it’s staggering by comparison: In all of 2019, Americans spent $1.6 billion Americans spent on beer and wine in 2019.
As for food, no less authority than pretty much every American agrees: You can’t go wrong with a cookout or a barbecue or a picnic. The aforementioned authority, NRF, reports that food makes up $7.52 billion of the holiday’s spending, and U.S. partygoers will spend more than $80 per person – the most since 2014.
Americans are expected to spend an estimated $7.52 billion this year, up from last year’s $6.52 billion.
The reopening blast-off wouldn’t be complete without the actual fireworks displays, either. After a frustrated population poured their money into fireworks purchases last year – as the pandemic raged on – the supply chain problems over the past few months will stunt any growth in spending for 2021.
Reports say Americans will fork over roughly $1.5 billion on fireworks, about the same as last year, with at least a third of those asked planning to attend an organized display.
That’s a welcome stat after 80 percent of community displays were canceled last year due to the pandemic.