Sure, Valentine’s Day is about celebrating the person you love, but for businesses including restaurants, florists, and jewelry stores, it means big, big business.
Just how big? The National Retail Foundation [NRF] is forecasting that Americans will spend $18.9 billion on flowers, chocolates, restaurant meals, and even “anti-Valentine’s Day” gifts this year. Now that is a lot of cash.
The NRF surveyed 6,357 adults about their Valentine’s Day plans, and perhaps their most interesting finding is just how much more men plan to spend this V-Day than women. Equal opportunity holiday this is clearly not.
In general, men plan to spend about $124 on a spouse or significant other, while women plan to spend only $54.
As for what most men are dropping cash on—38.5 percent said they are spending money on an evening out, 51.5 percent are dropping cash on chocolate, and a whopping 61.4 percent are spending money on flowers.
Women, on the other hand, are by in large taking a more economical approach to the whole thing with 31.8 percent saying they are spending money on a night out, 54.8 percent plan to spend money on candy, and 56.8 percent said they are buying greeting cards.
As for the people who are single or simply not into Valentine’s Day? For the most part they are trying to tune the whole thing out. 72.8 percent of men and 74.3 percent of the women who fall into that category said they don’t plan to spend any money this Valentine’s Day.