MarketResearch.com: Valentine's Day Spending Increases in 2015, Expected to Reach $18.9 Billion

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Feb 05, 2015, 06:07 ET

WASHINGTON and NEW YORK and LONDON, Feb. 5, 2015 /PRNewswire/ -- Over the past century, Valentine's Day has slowly turned into one of the most expensive holidays of the year. Couples' spending continues to increase, with sales in 2015 is expected to reach $18.9 billion.

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Businesses need to get ready and prepare to have the best inventory and promotions to draw consumers to spend with them for Valentine's Day gifts. According to a survey by the National Retail Federation, 91% of those surveyed plan on treating their significant other/spouses to something special on this holiday and plan on spending an average of $87.94, up from $78.09 in 2014.

Here are some of the big breakdowns of gifts that are going to be purchased this year:

53.2% plan on purchasing candy, about $1.7 billion
21.1% plan on buying jewelry, about $4.8 billion
37.8% will buy flowers, costing $2.1 billion
35.1% will plan a date night, estimated at about $3.6 billion

The survey also found that men will spend almost double what women spend. And, adults 25-34 will spend the most on loved ones, with an average of $213.04.

These numbers are all significantly higher than 2014, which will place consumer spending at a great start for 2015 holidays.

To learn more about how your company should prepare for the 2015 Valentine's Day and looking forward to 2016, check out these reports:

Chocolate Candy in the U.S., 10th Edition:
http://www.marketresearch.com/land/product.asp?productid=8275449&progid=87110
Holiday Shopping - US - July 2013:
http://www.marketresearch.com/land/product.asp?productid=7718949&progid=87110
Stationery and Cards in the United States:
http://www.marketresearch.com/land/product.asp?productid=7679172&progid=87110

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