Seems like a catchy marketing slogan, right? Happy Valentine’s Day – Now Shop
As we wrote before. Valentine’s Day Not Only Means Love. It Also Means $$$ for Firms
For Valentine’s Day 2020, we look at new shopping data.
Note: This post is dedicated to my Linda, the LOML (love of my life).
It’s February 14: Happy Valentine’s Day – Now Shop
“Even though Valentine’s Day isn’t as popular as it used to be in the United States, participants actually spend more than ever. In total, the National Retail Federation forecast that Americans will fork over a total of $27.4 billion. On cards, flowers, chocolates, and candlelight dinners. That’s a record level of spending and represents a steep percent increase on 2018’s planned spending figure of $20.7 billion. A decade ago, the share of Americans taking part in romantic activity on February 14th was 60 percent. Now, it has fallen to 55 percent. Nevertheless, people who actually take engage in the day of love take things more seriously than ever judging by spending levels..”
“This year, average we expect spending per person to be $196. A 21 percent spike on planned spending levels of $162 back last year. That certainly illustrates that love doesn’t come cheap these days. With participants saying they will spend $101.21 on spouses and significant others. $30.19 on other family members. $14.69 on friends. $14.45 on children’s classmates or teachers. $12.96 on co-workers. $12.21 on pets. And the rest on other categories.”
See the following Statista chart.