After pinching pennies hard for a couple of years, consumers are once again ready to shower their loved ones with gifts. In fact, according to IBIS world research, Americans will spend $18.6 billion this year on Valentine’s Day purchases. That’s nearly 6% more than last year and breaks down to about $125 a person. Americans will spend most of their dough on romantic getaways, candy and—the most popular expense of all—dining out. All those meals will cost us $8.8 billion this year. The National Retail Federation says the average man will drop more than $158 for Valentine’s Day, while the average woman will spend about $75. Valentine’s Day is not just for humans. The National Retail Federation says the average person will spend just over $5 on the family pet, up nearly $2 from last year.
Today’s poll question: How does your spending on Valentine’s Day gifts or outings this year compare with last year?
