Valentine's Day Spending Expected to Rise Slightly
The National Retail Federation expects people to spend slightly more during Valentine's Day this year than they did last year. They are expecting an increase in spending of about 4% this year. This seems reasonable given that the economy has not really recovered much, while prices have probably increased.
The NRF says half of those planning to spend money on Valentine's Day will buy candy, 36.6% will buy flowers and 19.7% will buy jewelry. 26.3% are shopping online for Valentine's Day gifts. Discount stores, department stores, specialty stores and flower shops are the biggest shopping destinations.
Flower growers say it makes a difference what day of the week Valentine's Day falls on as to how much people spend. It falls on Thursday this year. Take a look: