Taylor Swift is in her engagement era. Will it give the economy a boost?

Taylor Swift and Travis Kelce's engagement announcement has garnered social media attention, but can 'Swiftonomics' deliver a boost for retail sales?

The global economy may be trying to get Out Of The Woods, but a celebrity wedding might just be what it needs to Shake It Off after pop star Taylor Swift announced her engagement to two-time Super Bowl champion Travis Kelce.

The news is spurring hope that it could bring a much-needed boost to retail sales and consumer spending.

Swift’s impact on local economies and retail has long been the subject of study, with one estimate claiming that the singer-songwriter’s 2023 U.S. tour may have generated US$4.6 billion in total consumer spending, larger than the GDP of 35 countries.

A report dubbed Swiftonomics: Eras Tour Impact on Colorado found that Swift’s two shows in July led to a US$140-million boost to the state’s GDP for the year.

Canada, too, was left feeling the Lavender Haze from the performer’s shows here.

Payment processing firm Moneris released data indicating downtown Vancouver saw a 154 per cent increase in spending levels during her Eras Tour in 2024 — a spike not seen since the 2010 Vancouver Olympics, the report said.

Clothing stores saw a 923 per cent increase in sales, while sales of cosmetics rose 529 per cent. Variety stores saw a 178 per cent increase in sales volumes.

Swift and Kelce’s engagement has the potential to garner as much attention, if not more, than the Eras Tour, some experts argue.