You still have a couple of weeks left to figure out how to show your sweetie some love this Valentine’s Day, and for most folks, that involves spending some cash. While people love to hate on the holiday, 53% of U.S. consumers plan to celebrate it this year, according to the National Retail Federation’s annual Valentine’s Day survey.
It finds that Americans are planning to spend an average of $185.81 each, for a total of $25.8-billion overall. That’s about the same as last year’s spending and the third-highest since the survey started tracking spending in 2004.
The poll of over 83-hundred U.S. adults also reveals:
- Romance is on the minds of many, with total spending on significant others for Valentine’s Day expected to reach a record $14.2-billion.
- The most popular gifts include candy (57%), greeting cards (40%), flowers (39%), a night out (32%), jewelry (22%), clothing (21%) and gift cards (19%).
- In total, Americans plan to spend $6.4-billion on jewelry, $2.6-billion on flowers, $3-billion on clothing and $4.9-billion on an evening out.
- Nearly two-thirds (62%) of those between the ages of 25 and 34 plan to celebrate Valentine’s Day this year, more than any other age group.
- About a third (29%) of those who aren’t celebrating the holiday still plan to do something for the occasion, including treating themselves to something special or going out with single friends.
Source: National Retail Federation
Scott's Thoughts:
- So much for love not costing a thing!
- Rather than blow money on Valentine's, why not do special stuff all year round?
- Just like Christmas, Valentine's has become very commercial.