Memorial Day Statistics: How Much Americans Spend?
SPENDING - STATISTICS
Published On: March 27, 2022
Memorial Day Weekend marks the onset of summers in the US. It’s a day celebrated to rejoice freedom while appreciating the hard work of the soldiers. Everybody gets out of their houses and hits the road to go for long trips, malls or to hangout at exotic places. From beaches to every holiday spot gets crowded with people chattering and having fun. In this blog, you are going to find out statistics of various industries from travel to clothing to retail and learn how each one thrives.
Memorial Day Weekend Spending
According to the most recent census data, about 60% of American
adults are planning to travel on the Memorial Day weekend, this equals roughly 153 million people. How can a long weekend be spent without doing something people love the most? Friends and families make plans to spend the three-day-long holiday at resorts or in different cities.
Not only this, but during the Memorial Day holiday period in 2021, the average price of gas was above $3 per gallon. Furthermore, when people head for trips, items like beverages, get-on-the-go-food, restrooms, storage boxes, and several tour things also get an increase in demand. Americans on Memorial Day do not just travel but there is a pretty huge crowd at malls and food courts as well.
Food And Grocery
In the year 2020, prices of certain grocery items increased on the Memorial Day Weekend as customers demand more supply. However, the supply was limited but the demand increased and so that resulted in an increase in selling rates. As per the Bureau of Labor Statistics buyers paid 5.7% extra amount to buy hot dogs. In addition, the price of fresh beef increased 11.9%; processed meat reached 11.6% and fresh chicken to 7.5%. Furthermore, the average mobile orders increased to 17% whereas the order value to 10%. The count of transactions made during the two days of the holiday period reaches 213%.
The best Memorial Day Weekend sale of 2020 was nothing else than barbeques. If you look at the stats, its traffic on Monday is depicted below:
Holidays are a big call for foodies who munch all day long and prefer to eat meals they usually crave during their hectic busy days. Therefore, specific items got more demand and as people were suffering from the outbreak of COVID-19, not much of the demand was fulfilled. Therefore, the prices increased massively.
Clothing sale on the Memorial Day Weekend
Memorial Day Weekends are famous for shopping and that lasting excitement to roam around in the huge malls. It's the time when every eye is reading the discount board in front of their favorite outlets. According to the 2020 AdWeek's report, 56% of men opt to make electronic purchases via online stores
whereas 72% women go for apparel stores. Back in 2018, the total search volume for the query "Memorial Day Sale" reached 100%. In 2019, a total of 74 million consumers spend around $36 billion on the weekend.
Every year the day entices consumers with its amazing deals and packages. The brands get in a battle to come up with interesting discounts that can engage the target audience. Deals such as 15% Off Adrift discount code are crafted to attract new and old customers on this day. The Memorial Day clothing sales show an increase through multiple platforms. Some of the platforms and ways that contribute the most to increase the sales of clothing industry are listed below:
- Conversions on websites by 8%
- Transactions by 4%
- Mobile orders increased by 13%
Home furnishing appeared to be yet another rising trend in the shopping on Memorial Day weekend to-do list. From home renovations to furnishing, the DIY trends raised in 2020. Over Memorial Day weekend, interior and home-shopping websites are expected to receive a 130% increase in transactions As stores put huge discounts for customers, people plan to do shopping on the long weekend for things they have been planning all year. Renovation is something that has to be planned and what other time than executing your interior skills on the best holiday weekend you get.
Memorial Day E-Commerce Trends
Updates about the sales of the ecommerce industry on Memorial Day show a huge increase, especially from the apparel, jewelry and fashion industry. Visits
doubled at the e-commerce stores making an increase of up to 17%. However, the most unexpected increase was calculated on the Memorial Day Weekend of 2020 when around 380% traffic increased at the stores of fashion and apparel as compared to that in 2019. Even though there was a pandemic worldwide that shook governments economically, still people were inclined towards shopping for clothes at such a massive level. Whether it was jewelry shopping on Memorial Day or apparel, everything received a boom.
Appliances and Gadgets Shopping on Memorial Day
It's not just about clothing and fashion, people go for appliances as well. Sales on grill, appliances, gadgets and all sorts of technology are up in stores. According to the Prosper Insights & Analytics Study around 45.5% of buyers of age 18+ look for promotional deals on gadgets. In addition, around 93% of consumers plan for in-store shopping rather than buying online. However, the trend to go for a physical store is changed so this year you can expect the traffic on your online store as well.
Easy To Follow Memorial Day Marketing Tips
Looking at the stats, you must be thinking about how to reap out greater benefits on this year's Memorial Day Weekend. You do not have to stress about it as here are some easy to follow marketing tips to create your campaigns.
Utilize your omnichannel campaign technique to reach out to the marketing platforms and to form a better strategic technique. You will get to capture the attention of your leads more efficiently. Go for seasonal offerings like discounts on beverages or things that are most used on holidays.
Look around for potential sponsors that can help you put a more exciting image of your brand. Get the way into joining concerts or events that can help you connect with targeted leads. Collaborate with micro influencers and encourage your audience to stay connected to your brand.
Memorial Day Weekend is loved by people due to two things- the long holiday and the many Memorial Day discounts
. So, get recognized by pairing up your products to create combo deals or offer exciting promo codes to accelerate your sales. Deals such as 85% off 32 Degrees coupons
would attract a great number of customers to your brand. Try to sneak into the Memorial day statistics to learn how your competitors are planning things out.
Memorial Day Weekend is the best time of the year to increase sales and gain maximum recognition, as the consumers get enthusiastic to shop. So, dig the best outcomes and execute result driven strategies.