Afternoon Coffee: St. Patrick’s Day Spending Expected to Hit $4.4 Billion, FedEx Not Threatened by Amazon’s Shipping Network

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More than 125 million Americans are expected to celebrate St. Patrick’s Day today and spend a collective $4.4 billion, or an an average of $35.37 each, on the holiday, according to the National Retail Federation. Total spending on St. Pat’s Day has actually been declining since 2014, when it peaked at $4.8 billion.  

And, because St. Pat’s Day is often associated with having a Guinness or two, it may be appropriate to share findings from a recent survey by Finder.com showing Americans tend to shop online and spend money when they drink. The survey found consumers spend an average of $139 on “unplanned boozed-filled buying sessions.” Shoes and clothes are the most common “drink-driven purchases,” Finder.com said.

FedEx Executive VP Mike Glenn said it’s unlikely Amazon will be able to build a delivery network large enough to compete with FedEx. In a recent earnings call, Glenn reportedly said creating such a network to rival FedEx and others would be a daunting task and take “tens of billions of dollars.”

FedEx also believes retailers should be paying more for delivery of their products to meet the demands of the expanding e-commerce space. FedEx has reportedly increased capital spending this year for delivery of e-commerce products, and plans to continue to increase spending in that area over the next two years.

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