Sweethearts Spend Less for Valentines

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Flowers…chocolates…shiny baubles…experiences? What will you buy your sweetheart?

Valentine’s Day marks a traditional spending spree – retailers are expecting a whopping $18.2 billion to mark the big occasion in 2017.  That means U.S. consumers will shell out an average of $136.57, according to the National Retail Federation’s annual survey.* But that’s less than was spent in 2016, which reached a record high of $146.84 per spender.

Here’s how 2017 gift bearers will indulge their Valentines:

• $4.3 billion spent for jewelry

• $3.8 billion for an evening out

• $2 billion for flowers

• $1.9 billion for clothing

• $1.7 billion for candy

• $1.4 billion for gift cards

• $1 billion for greeting cards

If you don’t want to go over-budget, can you create unique homemade gifts or experiences to spoil your sweethearts?

* The NRF survey, which asked 7,591 consumers about their Valentine’s Day plans, was conducted January 4-11 and has a margin of error of plus or minus 1.1 percentage points.

 

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