Fewer Americans are celebrating Valentine’s Day, yet we’re expected to spend a record-breaking $20.7 billion on gifts

0
0

news image

Following is a trascript of the video.

Fewer people are celebrating Valentine’s Day, yet we’re spending more than ever on chocolates, flowers, and jewelry.

In a recent survey, 51% of people said they plan to celebrate the holiday. That’s down 4% from last year.

Americans are expected to spend over $20.7 billion on Valentine’s Day in 2019. That’s up 6% from last year.

The National Retail Federation estimates that Americans will spend: $3.9 billion on jewelry… $3.5 billion on an evening out… $2.1 billion on clothing… $1.9 billion on flowers… $1.8 billion on candy… $1.3 billion on gift cards… and $933 million on greeting cards.

The average person celebrating is expected to spend about $162.

People age 35-44 are the biggest Valentine spenders, averaging $279.14. People age 25-34 are the second, averaging $239.07.

And Americans can’t forget about their pets. Pet lovers are expected to spend $886 million on their furry companions.

For businesses, that means…$$$$$

US manufacturers will ship over $33 billion worth of Valentine’s day products (as of 2016).

Although Americans love to hate Valentine’s Day, it seems to be great for the economy.

Read More

This site uses Akismet to reduce spam. Learn how your comment data is processed.