Your Valentine’s Day bahumbuggery isn’t fooling anyone — consumers are still throwing cash at cute stuffed animals, jewelry, candy and fancy meals to show their loved ones they’re just that — loved. At least, according to a report detailing the mushy gushy season’s shopping trends.
Shoppers in the U.S. are probably going to spend $126 on average on romantic baubles, bites and gifts this year, says the National Retail Federation’s annual consumer intentions survey, via the Chicago Tribune. That’s up 8.5% from a year ago, and the highest level in the survey’s 10 years.
“As one of the biggest gift-giving holidays of the year, it’s encouraging that consumers are still exhibiting the desire to spend on discretionary gift items, a strong indication our economy continues to move in the right direction,” said Matthew Shay, president and CEO of the Washington, D.C.-based retail trade group.
Jewelry is a popular item, with 19% of shoppers saying they’ll plunk down cash as is flowers and dinner at 36%, but candy trumps all with half of shoppers intending to snag some for a loved one.
We already told you it’s cheaper to stay in and dine at home but hey, the heart does things the mind doesn’t understand when faced with a commercial holiday that says gifts equal love.
Survey finds heartening level of consumer spending for Valentine’s Day [Chicago Tribune]