April 6, 2018
The average person celebrating Valentine’s Day this Saturday will spend $142.31, up from $133.91 last year, according to the National Retail Federation. Total spending is expected to reach $18.9 billion, a five-year high.
While most (53.2 percent) plan to buy candy, spending a total of $1.7 billion, one in five (21.1 plan) will buy jewelry for a total of $4.8 billion, the highest amount seen since NRF began tracking spending on Valentine’s gifts in 2010.
Additionally 37.8 percent will buy flowers, spending a total of $2.1 billion, and more than one-third (35.1 percent) will spend on plans for a special night out, totaling $3.6 billion. Celebrants will also spend nearly $2 billion on clothing and $1.5 billion on gift cards.
Nine in 10 (91 percent) plan to treat their significant others/spouses to something special for the consumer holiday, while 58.7 percent will buy something for other family members and a record one in five (21.2 percent) will include their pets in their V-Day spending.
Men will spend nearly double what women plan to spend ($190.53 versus $96.58 on average, respectively.)
Read more about:National Retail Federation
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