St. Patrick’s Day is around the corner and most investors are hoping for some luck of the Irish for green returns on this day. This will lead to increase in spending and an upsurge in investments, driving stocks higher.

Per the National Retail Federation, Americans are expected to spend a record $5.9 billion on St. Patrick’s Day this year, representing the highest level in its survey’s 14-year history and up from last year’s record of $5.3 billion. More than 149 million Americans plan to celebrate Irish event this year, up from 139 million last year.

Consumers are expected to spend an average of $39.65 per person, up from last year’s $37.92. The day, associated with wearing green, food, drinking and home decoration with shamrocks, leprechauns and pots of gold, is popular among the 18-24 years age group.However, people in the 35-44 years age group are the biggest spenders, shelling out an average of $45.76 for the holiday.

About 50% of the Americans will be spending on holiday-themed food, 41% on beverages, 31% on apparel, 26% on decoration, and 16% on candy. Coming to shopping destinations, 38% purchases will be from grocery stores, 31% from discount stores, 20% from department stores, 19% from bars or restaurants, and 9% online, specialty stores, or drug stores.

Further, Americans plan to celebrate the holiday in a number of ways with 83% wearing green, 31% planning a special dinner, 27% throwing a party at a bar or a restaurant, 27% decorating their homes or offices in an Irish theme and 16% attending private parties. Additionally, 15% plan to attend a St. Patrick’s Day parade and 9% will host a party.

Higher spending will definitely boost revenues at retailers, and food and beverage companies. Restaurant stocks will see robust performances as well. Betting on ETFs from these corners of the market should be a winning strategy for investors seeking to rake in profits from higher spending on St. Patrick’s Day.

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