Valentine’s Day… the one set day a year that we get to show appreciation to the people we love. While some might just say “I love you,” others go all out buying chocolate, teddy bears, flowers, jewelry and other extravagant gifts. Because of this, Valentine’s Day has become a huge retail holiday. Believe it, or not, this year Valentine’s Day spending is supposed to be at an all-time high with a whopping $18.9 billion spent on gifts. Crazy, right?
Well I wanted to know more about the spending habits of Valentine’s Day shoppers, so I did a little research and here’s what I found.
Where the $18.9 billion being spent:
As you probably already guessed, a majority of the money being spent on Valentine’s Day is being spent on jewelry, flowers and clothing, but here is the actual dollar amount that was spent on the top gifts in 2014.
- $52.2 million – Flowers
- $50 million – Jewelry
- $38.3 million – Apparel
- $18.6 million – specialty gifts
- $7.2 million – Movies
- $7.1 million – Restaurants
- $1.2 million – Salons and Spas
What about candy:
Gifts are good, but let’s be honest, candy is pretty huge part of Valentine’s Day as well. It is estimated that $1.7 billion will be spent on candy alone, but did you know that:
- 58 million pounds of chocolate will be purchased during the week of Valentine’s Day
- 36 million number of heart-shaped boxes of chocolate purchased for Valentine’s Day
- 8 billion Sweathearts are produced annually and the majority of them are sold between Jan 1 and Feb 14
Most Romantic City:
Apparently there is such a thing as the most romantic city in the US and it is ranked by how much they increase spending on a typical Valentine’s Day category gifts during the first half of February. Tucson took the cake with 68% percent jump in spending, and we’re a little sad to report that our neighbors up in Portland live in the least romantic city with a mere 15% increase in spending.
Pets need love to:
It’s no secret that we love our pets and that we spend more than we’d ever like to admit on making their life as cush as possible. Even knowing this and being a huge pet lover myself, I was shocked to find out that Americans will spend more than $700 million on Valentine’s Day gifts for their pets – that’s about DOUBLE what is spent on Halloween costumes for pets. Since chocolate is definitely not a good thing to give your pet, I looked up what the top pet gifts were for Valentine’s Day 2015, here’s a few results:
- Valentine’s Day themed dog collar
- Bark Bars Valentine Hearts Pet Treat
- Casual Canine Love Bug Pet Costume
- Purina Beneful Baked Delights Heartfuls Dog Treats (heart shaped treats in a heart shaped box)
- 30 Valentine’s Day Dog Hair Bows Collection
Whether you’re a part of the 62% of American adult that admit to celebrating Valentine’s Day, or not, there’s no denying that Valentine’s Day is now a huge retail holiday and will continue to be for years to come. Happy Valentine’s Day!
Photo credit: Etsy user Tiny Bee Cards
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