Valentine’s spending on the rise

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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.