Looks like Cupid is a big spender.
The average American will spend $142.31 on Valentine’s Day gifts this year, according to a survey by the National Retail Federation released last month.
The 2015 estimate is up $8.40 from last year’s. That may not seem like much in the grand scheme of diamond necklaces and designer chocolates, but the group says having deeper pockets for your Valentine is “a good sign” consumerism is alive and well year-round.
“It’s encouraging to see consumers show interest in spending on gifts and Valentine’s Day-related merchandise,” NRF president and CEO Matthew Shay says in the report.
So what could have sparked significant others getting more generous this V-Day? Perhaps the hot and heavy Fifty Shades of Grey film coming out this weekend inspired customers to feel the love.
Hey, it’s statistically possible: More than one third of Americans plan to treat their date to “a special night out” like a trip to the movies.
Tell us: How are you planing to blow your budget Saturday?