Americans are projected to spend $6.9 billion on food and eat 150 million hot dogs.
Patriots will bleed red, white, blue and green this Fourth of July.
The more than 87% of Americans (216 million people) who plan to celebrate Independence Day this year will spend $6.9 billion on just food, according to the National Retail Federation’s annual Independence Day survey. Although spending for the holiday will be down from last year’s record-breaking $7.1 billion — it falls on a Wednesday this year — Americans are still planning to shell out money for the festivities as per-person spending increases.
“With consumer confidence at a high right now since the Great Recession, people are taking high employment numbers and slow but steady wage increases as signs that they’re safe to spend on non-necessities again, especially travel,” WalletHub analyst Jill Gonzalez told Moneyish. “Since the 4th falls on a Wednesday this year, we’re expecting to see people take week-long vacations that they otherwise might not have.”
Here are some figures on how much Americans are planning to spend — and eat — this holiday:
$1.6+ billion: The amount Americans plan to spend on beer and wine alone, out of the total $6.9 billion on food, according to WalletHub’s 4th of July survey. This weekend is a peak time for beer drinkers, with up to a 40% increase in sales, according to Marketplace. In fact, Independence Day is the third most popular holiday for adults to consume alcohol, according to a 2011 survey by Yahoo.
$75.35: The average person’s projected spending this Independence Day, an increase from last year’s personal spending of $73.42, according to the NRF’s survey. A majority of people (62%) are planning to celebrate with a cookout, while 12% plan on going to a parade.
$825+ million: The estimated spending on 4th of July fireworks. WalletHub also estimates that 16,000 fireworks displays are held each year, with 68% of fireworks injuries occuring within a month of July 4.
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$5.4 million: The value of American flags imported annually, most of which are from China, according to WalletHub. The report also showed that 62% of Americans own an American flag and that 75% of U.S adults are either very or extremely proud to be Americans. In addition, 27% of Americans will buy other patriotic merchandise for the Fourth.
150 billion: The number of hot dogs eaten each 4th of July weekend. Americans consume more hot dogs on the Fourth than on any other day of the year, according to the National Hot Dog and Sausage Council. The tradition has been popularized by the Nathan’s Hot Dog Eating Contest, which is held every Independence Day on Coney Island. Miko Sudo has been the reigning champ on the women’s side of the competition for the past three years, consuming 41 hot dogs in 10 minutes last year to hold her title.
46.9 million: The record-high number of Americans who will travel more than 50 miles this Independence Day. Most of this travel will be by car and plane, Gonzalez said: “Expect higher prices at the pump, and traffic!” she said. The national average price per gallon of gas hit $2.82 last month — the highest since 2015 — and is expected to continue rising through the summer, according to online gas station database GasBuddy.com.
New York is the best place to celebrate the Fourth for July, according to WalletHub’s newest ranking that compared the 100 largest U.S. cities, scoring the highest in attractions and activities. San Bernardino, Calif., was rated as the worst, scoring the lowest in affordability and safety.
93%: Out of the 87% of Americans who plan to celebrate the holiday this year, 93% will be younger consumers between the ages of 18 and 24, according to the NRF survey. And while only 27% of Americans plan on purchasing additional patriotic merchandise, 44% of young people plan on doing so.
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