So How Much Are You Spending 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 percent), teachers (20.4 percent), pets (19.4 percent) and co-workers (12.1 percent) will also be recognized.
Where Is the Love?
About 54 percent of people in the U.S. will celebrate Valentine’s Day, a slight dip from the 60 percent 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 percent 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 percent
- Candy – 48.7 percent
- Flowers – 37.3 percent
- A night out – 37 percent
- Jewelry – 19 percent
- Clothes – 15.8 percent
- Gift card – 14 percent