Americans to Spend Estimated $19.6 Billion on Valentine's Day

In this Tuesday, Feb. 6, 2018 photo, Debbie Corcoran, owner of Bloomin' Tons Floral Company, tracks a shipment of flowers that was supposed to arrive that morning in Bloomington, Indiana. Photo: Chris Howell/The Herald-Times via AP
In this Tuesday, Feb. 6, 2018 photo, Debbie Corcoran, owner of Bloomin' Tons Floral Company, tracks a shipment of flowers that was supposed to arrive that morning in Bloomington, Indiana.

February 12, 2018 04:17 PM

It's the month of love, the National Retail Federation and Prosper Insights & Analytics estimates the U.S. will spend $19.6 billion on Valentine's Day this year.

According to their study, the NRF expects about 55 percent of Americans will celebrate Valentine's Day. Last year, the total spending was recorded to be $18.2 billion. `

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The average consumer is expected to spend $143.56 on Valentine's Day, which is up $136.57 last year.

This is still less than the average spent in 2016, $146.84.

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The NRF and Prosper Insights & Analytics estimates how much on average a person will spend on their significant other, family members, children's classmates, friends, co-workers and even pets. The breakdown is below:

  • Significant Other: $88.98
  • Family Members: $25.29
  • Children's Classmates: $7.26
  • Friends: $7.19
  • Pets: $5.50
  • Co-Workers: $4.79

A list of total spending on gifts:

  • Jewelry: $4.7 billion
  • An evening out: $3.7 billion
  • Flowers: $2 billion
  • Clothing: $1.9 billion
  • Candy: $1.8 billion
  • Gift cards: $1.5 billion
  • Greeting cards: $894 million

About 35 percent of people plan to shop at department stores, 17 percent of people plan to shop at florists, and 29 percent of people plan to shop online.

The survey, which asked 7,277 consumers about their Valentine’s Day plans, was conducted January 3-10 and has a margin of error of plus or minus 1.1 percentage points.

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Alan Galarza Pliego

Copyright 2018 - KSTP-TV, LLC A Hubbard Broadcasting Company

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