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Posts Tagged ‘Consumption

Americans can’t afford to dine out this Thanksgiving so they’re eating even more turkey at home than last year, according to industry research firm IBISWorld.

Of total 2009 Thanksgiving sales, 92.5 percent, or $27.64 billion, will be spent on food and drinks alone.  Turkey is the single biggest purchase, with 47.1 million birds expected to be consumed this holiday – up from last year’s level of 45.3 million birds.  

In fact, turkey consumption during Thanksgiving will account for nearly 19 percent of all turkeys produced in the U.S. during 2009!

“The recession has caused people to go back to family values as opposed to simply buying presents,” explained Toon van Beeck, senior analyst with IBISWorld.  “Consumers just don’t have the money to fork out on unnecessary gifts and luxuries such as traveling.  Instead they’ll cherish time spent with close family and friends.”

Photo by marekwo

Photo by marekwo

Liquor is thought to be a recession proof industry, but this year the financial crisis is even ruining St. Patrick’s Day.  According to industry research firm IBISWorld, expenditure on beer and spirits are exptect to decline 6.6 and 5.2 percent, respectively.

Although consumption for beer tends to peak in March, along with prices, overall beer sales will be a marginal $1093.2 million – compared to $1170.4 in 2008.

“This St. Patrick’s Day beer and spirit producers will especially need the luck of the Irish to boost sales,” said George Van Horn, senior analyst with IBISWorld.

How about you Marvelous Girls?  Are you going out this St. Patrick’s Day?

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