You might want to budget $133.91 for your Valentine’s Day spending, just up slightly from the national average last year ($130.97). The National Retail Federation estimates US adults will spend $17.3 billion today.
Here is where that money will be spent:
- 51.2% greeting cards
- 48.7% candy
- 37.3% flowers
- 37% dinner at a restaurant
“Valentine’s Day and Christmas are our biggest holidays,” says Jack Long, CEO of Cookies by Design. “But Valentines if our biggest day because Christmas you can spread across a few weeks.”
And if you are lucky, very lucky, jewelry could be in the mix. Only 19% will get jewelry, but the collective value is $3.9 billion.
Some people prefer practical gifts like clothing (15.8%), or gift cards (14%).
Men spend twice as much money as women.
“Valentine’s Day, if you’re late, you’ve ruined somebody’s day,” Long tells KTRH News. You have to be very careful and make sure you plan accordingly.”
And don’t forget your pets. Almost 20% of households get a gift for Fido and Fluffy, spending an average of 5.51%.