Not frightened by inflation, Americans are stepping up their New Year’s Eve festivities this year, focusing party spending on food and libations, according to a recent report by Chicago-based market research company Numerator.
The data company surveyed 1,510 shoppers about their Christmas and New Year’s plans on Dec. 1-5, 2022, and detailed how Americans plan to mark the passage to the new year in its December holiday report.
“While celebrating at home with immediate family remains the top way to celebrate, house parties, bars and restaurants will all see increased activity this year,” according to the report. “New Year’s Eve remains a more spontaneous holiday for some, over one-in-ten still evaluating plans.”
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Overall, the majority of consumers are planning on shopping for New Year’s Eve spreads themselves instead of going out, according to the report. Almost half of New Year’s Eve celebrators report that they plan to celebrate at home with family this year, on par with 2021 findings.
However, those who plan to attend small, in-home gatherings total 30% in 2022, a 7% increase from 2021.
Revelers planning to ring in the new year at a bar or restaurant make up 19% of consumers, up from 13% in 2021. About 1 in 10 partygoers plan to gather at a large celebration in someone’s home, up slightly from the previous year.
Food and alcohol leading New Year’s festivities
Three-fourths of consumers plan to purchase food for New Year’s Eve, and over half anticipate picking up alcohol to usher in 2023, according to Numerator’s report.
Tallying entertainment expenses, shoppers report that they expect little or no impact from inflation. In fact, 56% of consumers plan to spend the same amount as they did last year, with only 19% planning on spending more.
According to Numerator’s December holiday report, most consumers don’t plan on spending more than $100 on food, alcohol or any other entertainment expenses for the last holiday of 2022.
