Valentine’s Day is just around the corner and as a whole Americans’ are expected to spend, spend and spend. But what are we actually spending all that money on?
According to the National Retail Federation Americans’ will be spending $19.6 billion this Valentine’s Day, which would make it the third largest consumer holiday in the country.
And since Cupid’s arrow will be finding its mark so often with shoppers, you should know where the money is being spent so you don’t come out looking like the average Joe. This is your time to shine!
So let’s break down that 19.6 billion, shall we?
About $.4.7 billion is expected to be spent on jewelry.
About a $3.7 billion will be spent on an evening out.
And of course flowers will be a big hit, with estimated spending at around $2 billion there.
Lastly clothing, gift cards, and that Valentine’s Day card you work so hard writing a special poem in round out the remaining 5 billion dollars.
The survey site Wallet Hub released its own findings on the holiday of love, too.
And if you’re feeling blue because you don’t have a valentine, that’s okay.
Because they say 45 percent of people won’t even be celebrating Valentine’s Day. In fact, 27 percent of single people they studied plan on buying themselves a present.
And perhaps the best number, a whopping $5.50 will be spent on your average household pet.
To see how local businesses are preparing for the big day, click here.
You can also click here for more Valentine's Day factoids.
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