Valentine’s Day Spending Down This Year To $165, With Less Eating Out

With Valentine’s Day on the way a new report by the National Retail Federation reveals that just over half (52 percent) of adults in the U.S. will celebrate Valentine’s Day this year. Collectively a total of $21.8 billion will be spent on gifts for partners, friends, pets, and more. Researchers found that those celebrating plan to spend an average $164.76 on the holiday. That number is down $32 on average per person in comparison to 2020 when consumers spent a record $196.31. Researchers attribute the decrease in spending to COVID-19. 74% of consumers celebrating Valentine’s Day say the pandemic will directly impact their plans. Less than 24 percent of respondents plan to gift their loved one with a night out, the lowest in the survey’s history. Click Here To Read More.

Source: Yahoo