Party City reports major increase in Cinco de Mayo sales
Sales of Cinco de Mayo party products at Party City have increased by more than 50% over the last two years as more and more consumers in the U.S. embrace celebrations in personalized and differentiated ways.
“We continue to see a strong convergence with our consumers, where their increased desire to celebrate life’s happy moments meets their need to reflect their own individuality, and we are well positioned to meet these dynamics with our broad product offering of ‘wearables’ and costumes,” said Jim Harrison, Chief Executive Officer of Party City Holdco Inc. (PRTY). “People want to look different from each other and social media gives them a vehicle to express themselves in a fun and unique way. In fact, over 50% of our sales associated with Cinco de Mayo come from the wearables category.”
Party City has also seen a significant increase in sales of other categories which complement Cinco de Mayo, including piñatas, tableware and drinkware, further demonstrating the growing consumer participation in this event. Demand for Cinco de Mayo party supplies year-to-date in 2017 continues to grow versus the same time period in 2015.
“We are able to leverage our global product design, manufacturing and sourcing capabilities to stay well ahead of emerging consumer trends, allowing us to capitalize on the consumer’s growing desire to celebrate,” Harrison continued, “and based on our experience, it is fair to say that Cinco de Mayo is ‘en fuego’ as a celebration in the U.S.”