On May 5, Americans are planning to spend more money celebrating the holiday that is most aligned with imbibing: Cinco de Mayo.
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According to market research company Numerator, U.S. consumers will spend the same or more on celebrating the margarita-friendly Mexican holiday, spending between $25 and $100 on supplies, including alcohol.
Sixty-one percent of those celebrating plan to spend the same as last year, while 22% plan to spend more. Food takes the top spot on the list, with 75% of those surveyed planning to buy it, but alcohol runs a decent second at 58% — 78% of them have their taste buds set on margaritas, while 51% lean toward beer.
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This Cinco de Mayo spending contradicts the recent trend toward a sober lifestyle that saves thousands of dollars a year, according to studies. The average American saves between $200 to $300 a month if they drink cheap alcohol, according to the Addiction Group.
Here are some fun numbers around Cinco de Mayo:
$600 million on beer. This is more than either Super Bowl and St. Patrick’s Day beer sales.
$2.9 billion annually on margaritas. The lime-enhanced tequila drink makes up 14% of American spending on cocktails.
126 million liters. Americans drink a lot of tequila on May 5.
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Sources:
Fortune, “Cinco de Mayo may be boozier than New Year’s Eve and St. Patrick’s Day, a survey finds“
Newsweek, “How Much Could You Save By Giving Up Alcohol?“
The Addiction Group, “What Are the Chances of Sobriety Success?“
USA Today, “What is Cinco de Mayo? What to know about Mexican holiday commemorating famous battle“
Chain Store Age, “Numerator: Consumers to spend $25-100 on Cinco de Mayo supplies“
This article originally appeared on GOBankingRates.com: How Much Do Americans Spend on Alcohol For Cinco de Mayo?
