According to an annual survey by the National Retail Federation (NRF), 55% of Americans who plan to celebrate Valentine’s Day are estimated to spend an average of $143.56.
Total Valentine’s Day spending for this year is estimated to hit $19.6 billion.
Looking at this number, it is obvious that people are not just buying the typical heart shaped box of chocolates and flowers for their loved ones.
So what are people buying for Valentine’s Day?
According to the NRF survey, nearly 20% of gift givers are planning to give jewelry this year – for a total of $4.7 billion dollars worth of necklaces, earrings, rings, etc.
The next biggest chunk of money will be spent on date night itself. As estimated 3.7 billion will be spent on a romantic evening out.
The total amount of estimated spending for 2018 has increased by about $1.4 billion from last year.