Source: iStock | Irina Velichkina
More Americans are planning to celebrate the Memorial Day weekend this year than last, but they’ll be watching what they spend when they do it.
A Numerator survey finds that 75 percent of Americans plan to celebrate the holiday this year. Eleven percent of those did not participate in Memorial Day activities in 2022.
Fifty-nine percent plan to grill or barbeque over the weekend and 42 percent will attend or host a gathering for family and/or friends. Nineteen percent will participate in recreational activities and a similar percentage will take time to remember a loved one who has died. Thirteen percent will attend a public celebration and 12 percent will watch fireworks. All of 2023’s numbers are higher than last year.
Americans are, for the most part, planning to stick close to home this weekend. Forty-nine percent who plan to celebrate will spend at least some of that time at home. Twenty-four percent say they will limit their travel to within an hour of their homes and eight percent say they will travel a few hours or more to get to their destinations. Gen Z and Millennials are twice as likely as other generations to hit the road for longer trips this weekend.
Consumers are looking to cut costs this year with 87 percent planning to spend the same or less than they did in 2022.
Eighty-four percent say that inflation will impact how much they spend. Saving money is a priority for many with:
- Fifty-four percent planning to buy goods on sale;
- Twenty-eight percent planning to use more coupons;
- Twenty percent planning to switch to store brands;
- Seventeen percent planning to shop at dollar or discount stores.