2012.02.08
Retailers will see some love this Valentine’s Day
John Hritz | Flickr
The National Retail Federation last month estimated that Americans would spend a record amount of money for Super Bowl-related items.
Now, the NRF is also saying the same of Valentine’s Day spending, an indication of a recovery economy, the NRF said in a news release.
The Valentine’s Day Consumer Intentions and Actions survey showed that the average person celebrating the holiday would spend $126, up 8.5 percent from last year. Total spending is expected to reach $17.6 billion, the highest in the survey’s 10-year history.
“As one of the biggest gift-giving holidays of the year, it’s encouraging that consumers are still exhibiting the desire to spend on discretionary gift items, a strong indication our economy continues to move in the right direction,” NRF President and CEO Matthew Shay said in a news release.
And who do you think will spend more, men or women?
According the survey, men will shell out nearly $169 on clothing, jewelry, greeting cards and more. Women are expected to spend about half that. Sorry guys.
Valentine’s Day isn’t just for spouses and significant others, the survey found. Children, pets and friends are also expected to be shown some love.
Of those surveyed:
- 19 percent will buy jewelry (for a total of $4.1 billion, up from $3.5 billion last year)
- 13 percent will buy gift cards (for a total of $1.1 billion)
- 51 percent will buy candy (for a total of $1.5 billion)
- 36 percent will buy flowers (for a total of $1.8 billion)
- 36 percent will treat someone to a nice evening out (for a total of $3.5 billion)
Are you planning to dig a little deeper into your wallet this year for Valentine’s Day, or, have you thought of a creative, inexpensive idea to show your love?
I’m not much on getting gifts on holidays, any of them. I just don’t feel like I need anything, and there’s so few things I want, that when people ask I don’t have an answer for them.
That said, I am planning to buy something for my wife…a new smartphone. She’s been wanting one for a while, and we can renew her contract on Valentine’s Day, so she’ll be getting a nice, shiny, new Droid. I’m also planning on dinner out too.
Comment by Other John — February 8, 2012 @ 12:07 pm
I disagree that the economy is recovering. People may spend more on Super Bowl or Valentines this year but it is only because they are fed up with scrimping. The “more” that they spend will, however, have to come from other spending (skip a couple of lunches, put off car maintenance, etc. Gas prices continue to go up, grocery prices are sky rocketing and unemployment is still very high. Many people have given up and left the job market. No, it will be several years (or longer depending on the election) before the economy improves.
Comment by RM — February 8, 2012 @ 2:57 pm
I don’t think the economy is recovering that much either. Holidays that revolve around food will always see an increase because it involves food. As everyone knows, Americans love to comfort themselves with food!
Comment by belle — February 8, 2012 @ 3:28 pm
Amanda,
Here’s a creative, inexpensive idea to show your love! Consider a Singing Valentine…it’s the unexpected! For just $50, 4 members of The Virginia Gentlemen Acapella Chorus will serenade your sweetheart with two love songs anywhere in the Roanoke Region (this includes the NRV) on Monday, Feb. 13 or Tuesday, Feb. 14. Along with the telegram style message of love, the individual receives a personal message from the sender and long-stemmed red rose.
This is a deal! The Virginia Gentlemen are currently taking orders at 540.977.0472.
Comment by Lisa Soltis — February 9, 2012 @ 8:41 am