Record Spending Expected for Valentine’s Day this Year
How much will you be spending on Valentine's Day this year? The National Retail Federation says spending will shatter all previous records.
The average American plans to spend about $196 dollars this year. That's up 21 percent from last year's record of $161. We will spend $27.4 billion this year. That is up 32 percent from last year’s record of $20.7 billion.
NRF President and CEO Matthew Shay says:
Most of the spending will be on a spouse or partner, but spending is also increasing for friends, family, pets and even co-workers. Has me wondering. Who's buying valentines for people at the office. That never happens around my office.