In our country in 2016 we stacked up some amazing statistics on spending our money for Valentine’s Day. We thought you might find the numbers interesting. Americans reportedly spent $19.7 Billion in 2016 for the holiday. Here’s how they spent some of it according to the National Retail Federation.
Who is Celebrating?
More than 54.8% of our population celebrated this romantic holiday. The biggest spenders are 25 – 34 year olds with an average of $234.00. The 35 – 44 years olds were second at $187.00.
Spending in 2016 for Valentine’s Day
Jewelry $4.5 Billion
Evening out $4.4 Billion
Flowers $1.98 Billion
Candy $1.76 Billion
Cards $1.14 Billion
Where are we shopping?
The top three locations for Valentine’s Day spending are:
- 35% Department Stores
- 31% Discount Stores
- 28% Online
And if you don’t pony up?
According to the Valentine's Day Consumer Intentions and Actions Survey, 53 percent of women would end a relationship if they didn’t get something on Valentine’s Day.
Candy is always dandy
About 81 percent of American consumers eat chocolate, so it’s not surprise the candy industry has a strong presence during Valentine’s Day. Almost 50% of consumers day they will be giving candy as a present this year, with sales expected to reach $1.7 billion.
Sharing the goodies
Consumers are not just spending money on their significant others. According to the National Retail Federation, consumers spend an average of $27.79 on other family members like their children and parents. With a variety of parties and events held on Valentine's Day, it’s also common for consumers to spend money on teachers, classmates, and even co-workers.
Many pet retailers use this time for marketing to pet owners, too. Consumers will spend nearly $681 million on treats and toys for their pets on Valentine’s Day, which is double what pet owners spent on Halloween costumes.
Dean and Draper
However you choose to celebrate Valentine’s Day we wish you a great time with those you love and care about. When you need some good information about your personal or business insurance, we invite you to call us. Contact us.
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The recommendation(s), advice and contents of this material are provided for informational purposes only and do not purport to address every possible legal obligation, hazard, code violation, loss potential or exception to good practice. Dean & Draper Insurance Agency specifically disclaims any warranty or representation that acceptance of any recommendations or advice contained herein will make any premises, property or operation safe or in compliance with any law or regulation. Under no circumstances should this material or your acceptance of any recommendations or advice contained herein be construed as establishing the existence or availability of any insurance coverage with Dean & Draper Insurance Agency. By providing this information to you, Dean & Draper Insurance Agency does not assume (and specifically disclaims) any duty, undertaking or responsibility to you. The decision to accept or implement any recommendation(s) or advice contained in this material must be made by you.
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The recommendation(s), advice and contents of this material are provided for informational purposes only and do not purport to address every possible legal obligation, hazard, code violation, loss potential or exception to good practice. Dean & Draper Insurance Agency specifically disclaims any warranty or representation that acceptance of any recommendations or advice contained herein will make any premises, property or operation safe or in compliance with any law or regulation. Under no circumstances should this material or your acceptance of any recommendations or advice contained herein be construed as establishing the existence or availability of any insurance coverage with Dean & Draper Insurance Agency. By providing this information to you, Dean & Draper Insurance Agency does not assume (and specifically disclaims) any duty, undertaking or responsibility to you. The decision to accept or implement any recommendation(s) or advice contained in this material must be made by you.