Is there any money in Parties?

Posted by PartyWeDo on Saturday, December 19, 2009
money tree

The Party Money Tree

Americans find a way to enjoy the company of family and friends during the holidays. They share gifts and the go to parties to be with, and to support each other socially.

But is there any money to be made servicing the party goers? Do Americans spend their money to attend parties?

We and American Express agree that the money is there…

And if a research study by the American Express company is any indication, the party spending is very big.

The December American Express Spending & Saving Tracker 2009 reports that, “In addition to spending money on gifts, consumers also plan to spend money on parties related to Christmas as well as New Year’s Eve. More than to-thirds (69%)  plan to celebrate the holidays with family and friends, and 90% of them plan to make purchases related to festivities.

If this study is correct, then about 207,000,000 people will join in some sort of party with family and friends during the holidays. And further math would suggest that 186 million will spend money for something to bring to the party.

There is a lot of Partying going on! And a bunch of money is being spent as well….

Both brick and mortar and online e-tailers benefit from the sales to these festivity participants.  But the online merchants seem to be smiling the brightest this holiday season.  It is a fact that many retailers make or break their year based upon the sales results between Thanksgiving and New Years.  It appears that parties play a big role in fueling their sales.

This same tracking survey showed that 79% of consumers will use the internet as a tool for holiday shopping, with 45% planning to make a purchase online.

So,  it appears that without the party, the holidays may not be all that fun…  at least financially and socially.

The following is a list of popular parties from a Party Planner site.

All of these events pluck some money from the Party Money Tree…

  • Anniversary party
  • Bar/bat mitzvah
  • Birthday party
  • Bon voyage party
  • Children’s party
  • Cocktail party
  • Dinner party
  • Engagement party
  • Family reunions
  • First communion and confirmation party
  • Fundraisers
  • Graduation party
  • Holiday party
  • Open-house party
  • Retirement party
  • Social events for business
  • Theme party
  • Wedding showers

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