As predicted people are not spending the big bucks this Valentine’s Day. Most of us are opting for cards, candy and flowers. Heck, I’m still reeling from Christmas and a crap economy. But some people are spending more
this month, so sales may actually increase for February, experts say.
Valentine’s Day is the third largest spending season in America,
according to the National Retail Federation (NRF), after Christmas and
The average amount spent by each consumer for Valentine’s Day is
expected to be $123, an increase of $3 from last year’s $120, according
to NRF. An average consumer is expected to
spend $80 on a spouse or significant other, $24 on family members, $6
on friends and $4 on children.
The most popular gifts, according to the NRF survey, are candy,
cards, jewelry and gift cards. And to cater to this trend, retailers
have introduced various offers both online and in stores to boost their
sales for February.
“Retailers are hoping that the Valentine’s Day offers will help
improve same-store sales for this month," observed Jharonne Martis, a
retail analyst with Thomson Financial.