You Won’t Believe How Much Americans Spend on Valentine’s Day
The economy is having a love affair with Valentine’s Day.
The National Retail Federation reports love-struck folks around this great nation of ours will cough up a whopping $17.3 billion in presents this Valentine’s Day.
Man, That’s a Lot of Cash
On average, a person will spend $133.91 on presents (although sometimes it can be more — way more). That’s about three dollars more than last year. Men will fork over $108.38, which is more than twice the amount women will pony up (they’ll spend an average of $49.41).
I Love You, But I’m Not in Love With You
And don’t think Valentine’s Day is solely for romance. Nearly 60% will also buy presents for relatives, while friends (21.7%), teachers (20.4%), pets (19.4%) and co-workers (12.1%) will also be recognized.
Where Is the Love?
About 54% of people in the US will celebrate Valentine’s Day, a slight dip from the 60% who did so in 2013.
Wearing Our Cards on Our Sleeves
So, what exactly will people buy for their special someone? Aside from a card (51.2% will buy one), greeting cards will be a big ticket item. And while jewelry isn’t the most purchased goodie, spending on it will reach $3.9 billion. Here are the items that people will purchase, along with the percentage of people who plan to buy them:
- Greeting card – 51.2%
- Candy – 48.7%
- Flowers – 37.3%
- A night out – 37%
- Jewelry – 19%
- Clothes – 15.8%
- Gift card – 14%