Valentine's Day Spending Forecast
A slowing economy won't stop Cupid, according to the National Retail Federation's (NRF) Valentine's Day Consumer Intentions and Actions Survey conducted by BIGresearch. Retail sales for Valentine's day expect to total $14.7 billion in the U.S. Consumers are planning to spend an average of $102.50 nationally while Midwest consumers plan to spend $92.75, down slightly from last year.
NRF’s Survey reported that Midwest consumers plan to purchase traditional items for Valentine's Day, such as cards (58.0%), an evening out (47.0%), candy (45.8%), flowers (35.7%), jewelry (16.0%), gift card/certificate (11.0%), and clothing (10.2%).
Midwest consumers plan to spend the majority of their Valentine's Day budget on their spouse or significant other ($60.42). Midwesterners will also spend on other family members ($19.61), children's classmates ($4.58), co-workers ($1.32), and pets ($1.86).
*The sum of the totals may be greater than 100 percent because the respondents can choose more than one answer.
National Retail Federation