Photo courtesy of: Chuao Chocolatier
Spending on Valentine’s Day merchandise is expected to jump 11% to an average of $116.21 per person from $103 last year.
“Though the economy will still be on their minds, Valentine’s Day holds a special place in many Americans’ hearts,” says Phil Rist, executive vice president of Strategic Initiatives, BIGresearch.
Discount stores will be the most popular shopping destination, with 36.6% of consumers stopping there to pick up gifts. That’s followed by department stores, with 30.5%; speciality stories, with 19.4%; and online, with 18.1%. Meanwhile, 16.8% will stop by their local florist, and 9.5% will visit a jewelry store.
“Having surpassed expectations during the holiday season, it seems consumers are not done pending on gifts, which bodes well for the economy,” says Matthew Shay, NRF president and ceo. “Jewelry, candy and apparel sales should provide a nice boost for retailers during typically slower months of January and February.”
Valentine’s Day- the fourth biggest holiday for confectionery purchases, after Halloween, Easter and Christmas, according to the National Confectioners Association - likely was named for a priest by the same name. He performed marriage ceremonies despite Roman Emperor Claudius II outlawing them and was beheaded Feb. 14, 270 A.D. for the offense.
Below is the holiday’s ‘ingredient list.’:
$116.21
Amount the average person will spend on traditional Valentine’s Day merchandise this year, according to information from the National Retail Federation.
$103
Amount the average person spent on traditional Valentines Day merchandise in 2010, according to information from the National Retail Federation.
$158.71
Amount the average man will spend on Valentine’s Day gifts, according to information from the National Retail Federation.
$75.79
Amount the average woman will spend on Valentine’s Day gifts, according to information from the National Retail Federation.
$1.5 billion
Amount consumers will spend on candy for the holiday, according to information from the National Retail Federation.
1,317
Number of U.S. manufacturing establishments that produced chocolate and cocoa products in 2008, according to the latest information from the U.S. Census Bureau.
3,375
Number of confectionery and nut stores in the United States in 2008, according to the latest information from the U.S. Census Bureau.
24.3 pounds:
Per capita consumptions of candy by Americans in 2009, according to the latest information from the U.S. Census Bureau.
