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Valentine's Day candy spend estimated at $1.5 billion - Natl. Retail Federation |
02.03.2012
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The average American celebrating Valentine's Day will spend about $126.03, up 8.5 percent over last year's $116.21 and the highest in ten years. Total spending is expected to reach $17.6 billion.Half of all celebrants (50.5 percent) plan to buy candy, at an estimated $1.5 billion.
The figures are according to the National Retail Federation's 2012 Valentine's Day Consumer Intentions and Actions survey, conducted by BIGinsight.
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"Anticipating high foot traffic in the coming weeks, retailers have replenished their inventories and will entice eager shoppers with great deals on everything from special menu items at restaurants to clothing to flowers and, of course, chocolates," said NRF President and CEO Matthew Shay.
Retailers will also want to rev up their websites, as more than half of all tablet owners and 40 percent of smartphone owners said they planned to use their devices to research products, compare prices, redeem coupons, look up retailer information or purchase products for Valentine's Day.
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