Shoppers are expected to spend big on Valentine’s Day this year, according to a recent survey by the National Retail Federation and Prosper Insights and Analytics.
The report estimates average consumers will spend $143.56 on Valentine’s Day this year on items like flowers, dining out, concert tickets, candy, jewelry and other items. That’s up from an average of $136.57 last year, according to information from the National Retail Federation.
Total spending is expected to be about $19.6 billion, up from last year’s $18.2 billion, and just short of a record high of $19.7 billion spent in 2016. The survey asked about 7,300 consumers about their Valentine’s Day plans, according to information from the National Retail Federation.
“Valentine’s Day has become a holiday consumers take advantage of not only to spoil their loved ones but themselves,” said Phil Rist, Prosper executive vice president of strategy in a press release. “Shoppers should look out for deals on everything from candy to date-night dinner packages in the coming days, leaving plenty of options for those looking to make the occasion truly special.”
QUICK BUSINESS READS: