March 16, 2012
On the other side of the rainbow, another calendar event brings another commercial opportunity for entrepreneurs. For St. Patrick’s Day, this special period is no exception. From a BigInsight survey for 2012 St. Patrick’s Day spending, businesses will reap an estimated $4.6 Billion pot of gold for this year’s event in the US.
St. Patrick’s Day Retail Statistics
According to the National Retail Federation (NRF) the average spending per consumer is estimated to be $35 US, centered on the food & beverage industry, but also ties into the retail industry with festive merchandise purchasing. Now that’s a lot of shamrocks!
St. Patrick’s Day Event – Business Planning
It is good business practice to plan out your operations and marketing well in advance. As part of your normal business planning core activities, your business plan may be targeting calendar periods such as this one, promoting your own mix of good & services. As a well prepared entrepreneur in industries such as retail, and if you rely on bigger calendar events to fuel your annual sales, ensure that you plan accordingly well in advance. This includes shaping your marketing strategy and aligning your suppliers, months before the actual calendar event.
So, sit back enjoy your green alcoholic beverage and plan out your next commercial opportunity. With some Irish luck, you will hit your pot of gold.
Business information, resources and tips for the entrepreneur
© 2012 Strategy Plan One