Did You Know Valentine’s Day Will Contribute $18.6 Billion to the Economy?
According to the National Retail Federation, Valentine’s Day spending grows every year. In 2012, people spent $17.6 billion dollars and in 2013 they’re estimated to increase spending by another billion dollars for $18.6 billion. Here are some additional numbers to keep in mind:
- People will spend an average of $131.
- Men are predicted to spend around $180 on their partners whereas women are more likely to spend around $90.
- Married couples spend almost half the national average, about $75 dollars.
- 51% said they’d be buying candy, 19.7% jewelery and 15% will buy gift cards.
Knowing your customers is the first key to accommodating them on these precious holidays.