5 things to know about Valentine’s Day spending

Credit: DaytonDailyNews

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The History Of Valentine’s Day

Credit: DaytonDailyNews

Consumers apparently aren’t feeling the love this year. Here are five things to know about financial trends around Valentine’s Day:

1. After a decade-long increase in Valentine’s Day spending, consumers in the U.S. will spend less on the romantic holiday than they did last year.

2. The average person is expected to spend an average of $136.57, a decrease from last year’s $146.84.

😍🍕😍🍕😍 https://t.co/Pq9S913BHH— Kara Driscoll (@KaraDriscollCox) February 7, 2017

3. About 90 percent of consumers plan on buying something for their significant other, and they’ll spend about $85 on their gifts. U.S. consumers will spend $4.3 billion on jewelry, $2 billion on flowers and $1.7 billion on candy.

4. Millennials are part of the changing consumer habits. More than 40 percent of consumers — ages 18 to 34 — would rather invest in “gifts of experience” like a concert tickets or a dance class, according to a NRF survey.

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5. Total spending is expected to hit more than $18.2 billion, down from nearly $20 billion in 2016, according to the National Retail Federation.

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