Valentine's Day Fun Facts & Spending Forecast
Cupid is back in business, according to the National Retail Federation's (NRF) Valentine's Day Consumer Intentions and Actions Survey conducted by BIGresearch. Retail sales for Valentine's Day spending in the U.S. expect to total $15.7 billion. Consumers are planning to spend an average of $116.21 nationally while Midwest consumers plan to spend $92.12, an increase of 11 percent from last year. According to the NRF, this Valentine's Day couples are eager to shower their loved ones with special gifts. MERIC has put together some fun facts and figures about this holiday to share with your loved ones.
The number of pounds of candy consumed by each person per year in the Nation.
The number one gift Midwesterners plan to give on Valentine's Day.
The estimated amount that will be spent nationally for 2011 Valentine's Day jewelry purchases.
The average amount Midwesterners plan to spend on an evening out with their loved one on Valentine's Day.
Men are forecasted to spend twice the amount ($158.71) on gifts than the average women ($75.79).
Valentine's Day Spending Forecast
NRF’s Survey reported that Midwest consumers plan to purchase traditional items for Valentine's Day, such as an evening out (35.6%), candy (48.1%), cards (52.6%), clothing (12.8%), flowers (34.1%), gift card/certificate (12.1%), and jewelry (15.3%).
*The sum of the totals may be greater than 100
Midwest consumers plan to spend the majority of their Valentine's Day budget on their spouse or significant other ($55.73). Midwesterners will also spend on other family members ($19.61), children's classmates ($3.37), pets ($3.01), and co-workers ($2.37).
National Retail Federation, Census Bureau, InfoUSA