When I think back to Thanksgiving as a child, I think of sitting in front of the TV for the one hour we were allowed to watch The Macy’s Thanksgiving Day Parade. The TV showed an endless sea of floats, singers, dancers and even blimps as they paraded through New York City on Thanksgiving Day. Aside from being one of the most watched Thanksgiving traditions ever, the parade accumulates many economic, cultural and overall meaningful benefits for both Macy’s and the City of New York.
- Tourism
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The Macy’s Thanksgiving Day Parade is hosted by the iconic American department store, Macy’s. Though the mega company benefits from most of the parade costs, much is graciously given back to the City of New York. The parade is said to bring in hundreds of millions of dollars each year in tourism revenue. Folks who attend the parade also need places to sleep, eat and shop. Because of this, local businesses benefit yearly from the tourism traffic of the parade. This tradition is far more than an entertaining parade; it’s a continued effort to give back to the city.
- Employment
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A parade this size isn’t built overnight. The Macy’s Thanksgiving Day Parade takes practically a year’s worth of preparation. The hard-working people who sign on for the job make both the elaborate planning and execution of the parade possible. The parade creates hundreds of jobs for people, including behind-the-scenes work, marching in the actual parade, and overseeing the floats/blimps to make sure everything runs smoothly.
- Tax Revenue
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The Macy’s Thanksgiving Day Parade brings in some of the largest tourism crowds the City of New York has ever seen. When these tourists buy, eat and sleep in the city, they not only boost the city’s economy, but they increase its tax revenue. This tax revenue benefits NYC public schools, roads, health and overall infrastructure. Each parade is said to generate overall a million dollar’s worth of tax revenues for these purposes.
- Positive Image
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Along with the economic benefits of the parade, it also helps to promote a positive image for both the company and the city. For years, the parade has made a lasting impression on the City of New York, its residents and each tourist who travels for the event. Not to mention, the event provides tons of free marketing and PR for the department store. The parade is a signature brand image for the department store, the city and the nation.
- Sense of Belonging
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The Thanksgiving holiday is a day to give thanks to friends, family and the food and blessings that we share. The day traditionally includes a large feast, parades and often football games. In 1920, the department store had a large first-generation immigrant employee population. To give these employees a taste of American tradition and a sense of belonging, the Macy’s Thanksgiving Day Parade was founded that year. After an overwhelming success, the parade became an annual event. The Macy’s Thanksgiving Day Parade symbolizes unity, tradition and America as an opportunity land for all. Its annual presence reminds viewers and participants of why it all began.