Unlike housing prices and interest rates, Cupid’s costs are expected to go up in 2008.
According to a study issued Monday by the National Retail Federation (NRF), the average consumer plans to spend $122.98 on Valentine’s Day, up from $119.67 in 2007. Total retail spending for the Feb. 14 holiday is expected to reach $17.02 billion.
Of the 61 percent of consumers who plan on celebrating Valentine’s Day this year, the NRF said nine of ten will spend the most on their significant others or spouses. But other loved ones will not go forgotten: six in ten plan to buy something for their family members, and two in ten said they would send a gift to friends.
This year, over 48% of love birds plan to celebrate the day by taking their significant others for a special night out, up from 45% in 2007, the NRF said.
But the federation said other traditional Valentine’s Day presents will remain popular too, with nearly 48% of consumers planning on purchasing candy, 36% with expectations of buying flowers, and 17% who said they would buy their special someone jewelry.
Of course, it is important that the recipient knows who his or her special admirer is – 57% of those surveyed plan on buying a card for their Valentine, the NRF said.
“Valentine’s Day is a great time to get creative with gift options,” said NRF President and CEO Tracy Mullin. “Most people agree that it’s the thought that counts, but shelves will also be filled with traditional gifts for those who want to celebrate the old-fashioned way.”
Men will outspend women this year, spending an average of $163.37 on gifts and cards, compared to an average of $84.72 spent by women, according to the NRF.
Photo by MSDesigns.
e² Young Engineers
Build Your Tomorrow. Today! CLICK HERE TO VISIT OUR WEBSITE Background: We are e² Young Engineers Young Engineers enrichment programs combine education + entertainment = edutainment. We created a variety of different programs that can be used to teach science, technology, engineering, math (STEM). Children joining our educational community can learn and enjoy arithmetic, physics, […]
Business owners don’t have the time or know-how to manage their own social media campaigns, yet they know they need to. Start your own business managing social media for local businesses – we provide the website & all the training you will need. Do you enjoy Facebook & Twitter? Why not make a hefty residual […]
Commercial Capital Training
Welcome to Commercial Capital Training Group Own Your Own Finance Business By Completing Our Comprehensive Commercial Loan Broker Training Program Commercial Capital Training Group, LLC 90 State St. Suite #1500 Albany, NY 12207 Commercial Capital Training Group has developed a one-of-a-kind commercial loan broker training program that allows you to own a commercial finance company. With […]