July 3, 2024
FastCompany recently published an article by Jay Zagorsky, Clinical Associate Professor of Markets, Public Policy, and Law, discussing the decline in the popularity of fireworks sales.
The decrease in sales is credited to the COVID-19 pandemic, which initially caused an upsurge in fireworks sales as people sought outdoor, socially distanced activities. Fireworks imports peaked at around $600 million in 2022 but experts predict this to decrease significantly to approximately $350 million by 2024.
“During the COVID-19 pandemic, when people were stuck in their homes and social distancing was common, fireworks use shot up. This makes sense: Setting off pyrotechnics is an outdoor activity where the product instructions explicitly state people igniting them should stand far away from others,” Zagorsky adds.
Despite the increased costs and safety concerns, fireworks continue to be a cherished part of Independence Day festivities.
