Annually, men plan to spend more than women at $291 compared with $106
National Retail Federation revealed that Americans are expected to set a record for Valentine’s Day spending this year.
People plan to spend an average of $196, up 21% over 2019’s record of $161. Spending is expected to total $27 billion, compared to last year’s record of $20 billion.
27% of people surveyed revealed they will buy Valentine’s gifts for their pets, up from 17% in 2010.
People aged between 18 and 24 plan to spend an average of $109. People from 25 and 34 years old tend to have higher incomes, expecting to spend $307.
Department stores are the most popular Valentine’s Day shopping destination, visited by 36%, with discount stores and online tied at 32%. 19% of customers visited specialty stores and 17% of them florists. Local small businesses and clothing stores were attended by 15% and 11% of customers, respectively.