The average person will spend $116.21 on traditional Valentine’s Day merchandise this year, that’s up 11% over last year’s $103. Total holiday spending in the U.S. is expected to be $15.7 billion.
The National Retail Federation’s 2011 Valentine’s Day Consumer Intentions and Actions Survey found that couples plan to spend an average of $68.98 on their spouse or significant other, up from $63.34 last year. Consumers will also spend an average of $6.30 on friends, $5.04 on their pets, $4.97 on their classmates and teachers and $3.41 on co-workers. The average man will spend about $158.71, more than twice the amount ($75.79) for the average woman.
The most popular gifts are cards (52.1%) and jewelry (17.3%). Spending for most gifts will also be up this year. Sales of jewelry are expected tri increase to $3.5 billion, up from $3 billion last year. Spending for dining out will be about $3.4 billion, an increase from $3.3 billion in 2010. Spending for other gift options include: flowers ($1.7 billion), candy ($1.5 billion) and greeting cards ($1.1 billion).
Discount stores will have the greatest amount of sales (36.6%), followed by specialty stores (19.4%) and online shopping. Local florists (16.8%) and jewelry stores (9.5%) will also receive their share of shoppers.
Pictured: The average American consumer is expected to spend $116.21 on traditional Valentine’s Day merchandise this year, up from $103 in 2010.
Photo courtesy of National Retail Federation