Valentine’s spending on the rise
Americans will spend about five dollars more per person on Valentine’s goodies this year compared to the last day of love.
The National Retail Foundation says we’ll spend an estimated $18.6 billion on candy, cards, flowers, jewelry and gifts for our sweethearts this Valentine’s Day.
That breaks down to about $131 per person, which is about five bucks more than last year.
The foundation says more than half of those giving gifts will buy candy, to the tune of $1.6 billion in total. Just over one-third will give flowers but they’ll spend more, at $1.9 billion. Jewelry spending will total more than $4.4 billion.
Online Valentine’s shopping is expected to reach an all-time high, with more than a quarter of this year’s Valentine gift shopping happening online. Forty percent of smartphone users will use their phones to shop for gifts and about 47% of tablet owners will use their devices to shop.
Men will also spend about twice what women will spend. The NRF says men will spend an average of $175.61 on gifts for their Valentine; women will spend about $88.78.