Holidays

It's Mardi Gras--Let The Good Times (And the Money) Roll

Bourbon Street

Today you're probably thinking about King Cakes, Hurricanes and beignets, but we at bizologie are thinking about the business side of Mardi Gras. Ok, maybe we're thinking a little bit about King Cake. In a report commissioned by the Carnival Krewe Civic Fund and conducted by Tulane University, the 12 day festival has a significant economic impact on the city of New Orleans. Here's how the numbers break down:

The city's return on investment, including brand value (money spent outside the Mardi Gras season), is $4.48 for every dollar spent. Additionally, Mardi Gras represents over 1% of the city's GDP--that's 1% in just 12 days!

Valentine’s Day Dollars

Valentine_Chocolates

Your sweetie might show be showing a little more love this Valentine's day. The National Retail Federation recent survey shows that after a couple of years of declining spending on the most romantic day of the year the love is back. Total spending should be up almost 13% over last year. Spending for the holiday is expected to reach $15.7 billion! With increases in all areas including jewelry, clothing, and dining out. The average per person is a whopping $116. Not surprisingly, the survey shows men spend twice as much as women, and young couples and parents who have to buy for school spend more than those 65+.

Retailers appreciate all the love in the air. “Jewelry, candy and apparel sales should provide a nice boost for retailers during the typically slower months of January and February,” said NRF President and CEO Matthew Shay. The big winners are the discount stores that see 36% of those shopping dollars. Department stores get a 30% share. Specialty stores and online retailers follow with 19% and 18%.

Happy Valentine's Day from bizologie! xoxo