It's that time of year again. Valentine’s Day is coming up. What are your plans? Is this a big celebration for you and your loved one? Will you be going out to dinner, buying chocolates or flowers? Or, will you be preparing a special meal at home?
U.S. consumers are expected to spend an average $143.56 on Valentine’s Day as 55 percent of the population celebrates this year, an increase from last year’s $136.57, according to an annual survey prepared for the National Retail Federation. Total spending is expected to reach $19.6 billion, up from $18.2 billion last year. The numbers are the second-highest in the survey’s 15-year history, topped only by the record $146.84 and $19.7 billion seen in 2016.
This year’s survey found consumers plan to spend an average $88.98 on their significant other/spouse, $12.1 billion; $25.29 on other family members such as children or parents, $3.5 billion; $7.26 on children’s classmates/teachers, $991 million; $7.19 on friends, $982 million; $5.50 on pets, $751 million; and $4.79 on co-workers, $654 million. Consumers age 25-34 will be the biggest spenders at an average of $202.76.
Those celebrating Valentine’s Day plan to spend $4.7 billion on jewelry, 19 percent; $3.7 billion on an evening out, 35 percent; $2 billion on flowers, 36 percent; $1.9 billion on clothing, 17 percent; $1.5 billion on gift cards/gift certificates, 15 percent; and $894 million on greeting cards, 46 percent. More consumers plan on purchasing candy this year, with 55 percent – up from 50 percent – saying they will give gifts of candy for a total of $1.8 billion.
Even those who aren’t taking part in Valentine’s Day festivities won’t be left out. More than a quarter, 27 percent, of consumers who aren’t observing the holiday, have an alternative in minds such as treating themselves in some way or getting together with family and friends.
Valentine’s Day facts
The U.S. Department of Commerce offers the following information on the day of lovers.
29.7 and 27.8 years
Median age at first marriage in 2015 for men and women, respectively.
The overall percentage of people 15 and older who reported being married, except those separated.
The rate of marriages per 1,000 people performed in Nevada during 2014. So many couples tie the knot in the Silver State that it ranked number one nationally in marriage rates. Hawaii ranked second with a marriage rate of 17.7.
The number of marriages that took place in the United States, excluding Georgia, in 2014. That breaks down to about 5,800 a day.
Among people 15 and older who have been married, the percentage of men and women who have been married twice as of 2015. About 5.4 have married three or more times. By comparison, 75.5 percent of people who have ever been married have made only one trip down the aisle.
The number of dating service establishments nationwide as of 2012. These establishments, which include Internet dating services, employed 2,348 people.