Memorial Day by the Numbers
3:47 AMPosted by: John S Kiernan
Memorial Day is more than just a day off from work or school, an excellent occasion for a backyard barbeque or a chance to travel. Sure, all of those celebratory staples speak to the holiday’s true spirit. But above all else, Memorial Day honors Americans who have died in service to their country. This holiday is not one of somber reflection, however. We instead choose to celebrate by enjoying the many freedoms that American servicemen and women have perished protecting.
That includes fundamental rights such as freedom of speech, trial by jury, and protection against cruel and unusual punishment. It also extends to relative trivialities such as the ability to save up to 90% with Memorial Day weekend sales or ride roaring Harleys through the nation’s capital. And yes, 62% of us do indeed barbeque each Memorial Day weekend, while 39% take a trip. Memorial Day’s place on the calendar has positioned it as the unofficial start to summer for many, after all.
To help give you a better understanding of what Memorial Day is all about, we analyzed the holiday from top to bottom in search of the most revealing stats and facts. You can check out our findings in the infographic below. We also hosted a Q&A with leading travel-industry experts, who shared some great summer savings tips. Enjoy!
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To learn more about how people can navigate Memorial Day’s commercial opportunities and pitfalls, we posed the following questions to a group of leading personal finance and retail experts. You can check out their bios and responses below.
- What is the best way to honor the memory of our fallen countrymen this Memorial Day?
- Do you believe Memorial Day has become too commercialized?
- What types of bargains should shoppers be looking out for this Memorial Day?
- What money saving tips do you have for people planning to travel on Memorial Day?
Peter Singer Ira W. DeCamp Professor of Bioethics in the University Center for Human Values at Princeton University
Paige Beal Assistant Professor and Chair of Sports, Arts and Entertainment Management Program in the Rowland School of Business at Point Park University
Jill Lambeth Associate Professor of Strategic Communication at University of Central Oklahoma
Ashwani Monga Professor and Chair of the Marketing Department at Rutgers Business School
What is the best way to honor the memory of our fallen countrymen this Memorial Day? The best way to commemorate those who fell trying to preserve the rights to life, liberty and the pursuit of happiness is not to go shopping at all, but to donate to organizations that are protecting those rights for others. You can find which organizations will do the most good with your donation by going to The Live You Can Save. Paige Beal Assistant Professor and Chair of Sports, Arts and Entertainment Management Program in the Rowland School of Business at Point Park University 
What is the best way to honor the memory of our fallen countrymen this Memorial Day? There’s no bad way to honor fallen service members. Possibly the most impactful demonstration of gratefulness would be to demonstrate support to their families who have lost loved ones. Many families struggle with not only emotional but also financial challenges in the wake of losing a service member. Do you believe Memorial Day has become too commercialized? We live in a capitalistic, commercial society. Culturally, we demonstrate our support by institutionalized purchase patterns. A commercial cultural approach doesn’t necessarily mean that there isn’t thought and feeling behind the purchases being made. Americans show their love with their wallet and their hearts. What types of bargains should shoppers be looking out for this Memorial Day? Anticipate bargains galore this Memorial Day. Consumer confidence is high and retail will be ready with offers that match that confidence. Brick and mortar department stores along with other retail trying to survive the digital retail onslaught will do their best to lure shoppers with strong price points. Automotive is working hard to make offers turn around their sales slide. Memorial Day also marks a seasonal retail opportunity for clothing, home goods and DIYers. What money saving tips do you have for people planning to travel on Memorial Day? Prices are up for airline tickets and lodging. For the most affordable Memorial Day travel, get in your car and take advantage of the low gas prices. With the holiday right around the corner, you aren’t likely to get great prices on popular destinations. So look for those hidden gems within a couple of hours from home and make the most of a day trip. Your local Convention and Visitor’s Bureau likely has a list of these low cost, local day trips available on their website. Jill Lambeth Associate Professor of Strategic Communication at University of Central Oklahoma 
Do you believe Memorial Day has become too commercialized? Memorial Day has been commercialized to symbolize the beginning of summer, instead of a day to honor the memory of our fallen countryman. In the era of social media, companies need to be cautious about capitalizing off of Memorial Day. Similar to other recent PR events, consumers are now more inclined to call-out companies that are not being authentic to their brand. What money saving tips do you have for people planning to travel on Memorial Day? Memorial Day weekend is one of the busiest air travel times of the year. To save cost and frustration, in case your flight is delayed, luggage lost or you get bumped, plan in advance and pack a carry-on bag with all the essentials you need for one day. Also, because companies use Memorial Day to capitalize on the beginning of summer, buy sale items you can use for your trip and all summer long, including bulk sunscreen, pool items, 12/24 packs of soda, chips, etc. Ashwani Monga Professor and Chair of the Marketing Department at Rutgers Business School 
Do you believe Memorial Day has become too commercialized? This Memorial Day, people are more likely to think about what to buy than to think about those who laid their lives for the country. This commercialization of Memorial Day is no different from the fate of so many other occasions that were initially meant to commemorate special days, rather than special deals. But then, consumption is the engine that drives the U.S. economy, and therefore every solemn occasion turns into a shopping bonanza. And this bonanza is going to be in full bloom over the days leading up to Memorial Day. From phones to cars, consumers will be pursuing the best deals of the season. The Memorial Day Sale will be just the beginning of the summer. The season will conclude with a day that is supposed to honor the American labor movement -- the Labor Day Sale.from Wallet HubWallet Hub
via Finance Xpress
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