The Cost Of Love Increases Again
It's costing more to show your love according to the National Retail Federation (NRF) 2007 Valentine's Day Survey. The average American will spend over $100 ($119.67) this February 14, up from $100.89 last year and $97.27 in 2005. Well over half (63.4%) of consumers are going to celebrate with total spending is expected to reach $16.9 billion, up over $3.2 billion from 2006.
Men will spend nearly double what women spend on the holiday ($156.22 versus $85.08) and will be purchasing more flowers (58.3% vs. 52.3% in 2006) as well as more jewelry (27.6% vs. 22.4% in 2006) this year.
62.8% of consumers will purchase at least one greeting cards for the holiday, with 42.9% buying candy and 53.1% enjoying an evening out with their sweetheart.
More Valentine's Day facts:
189 million roses were produced for Valentine's Day in 2006, with 74% of rose purchases made by men, according to the Society of American Florists.
According to the National Confectioners Association, about 8 billion conversation hearts will be produced this year; that’s enough candy to stretch from Rome, Italy to Valentine, Ariz. and back again 20 times.
Valentine's Day is the third most popular card-sending holiday behind Christmas and Father's Day, according to the National Retail Federation.
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