Find out how much average person will spend on Valentine's Day
The average person will spend $130.97 on candy, cards, gifts and more for Valentine's Day, up from $126.03 last year, with total spending expected to reach $18.6 billion, according to a new survey by BIGinsight. Pets will get some love, too. More than $815 million is expected to go toward pet gifts, according to the National Retail Federation.
"Valentine's Day remains one of the biggest gift-giving holidays of the year, and although consumers will be conscientious with their spending, it's great to see that millions of Americans are still looking forward to celebrating with their loved ones," NRF President and CEO Matthew Shay said in a statement.
"Recognizing their customers will shop for both price and value, retailers and restaurants will offer plenty of promotions for anyone looking to spoil those that mean the most to them this February 14th."
The NRF says a mix of traditional and non-traditional Valentine's Day gifts will be popular this year. More than half (51.0 percent) of gift givers will buy candy, spending $1.6 billion in total, and another one-third (36.6 percent) will give flowers, with total spending expected to top $1.9 billion. Others will treat their sweetie to jewelry (19.7 percent), spending more than $4.4 billion on diamonds, gold and silver.
Another 15.6 percent will buy clothing, spending more than $1.6 billion. Gift cards, the gift that keeps on giving, will also be on the top of shoppers' lists; 15.0 percent of gift givers will buy gift cards for their loved ones, totaling to $1.5 billion.