Valentine’s Day is the day for lovers, but also the day for retailers and florists to cash-in.
- Spending is a bit down, but candy is the biggest selling item this year
- The least spent Valentine's Day present? Gift cards
Spending is actually down this year, according to a new survey from the National Retail Federation.
They found the average shopper will spend $136.57 this year for Valentine’s Day. That is down $10 from 2016, the first decline in spending in a decade.
But places like Flower No. 5 are still busy getting ready for the holiday.
“We’re not seeing it at all, it’s still busy, I think we are a little bit busier than we were last year,” said Bobby Belanger, one of the owners of Flower No. 5 in Orlando.
The florist shop will make hundreds of arraignments for customers.
“For us, (Valentine’s Day is) one third of our annual income,” said Belanger.
The survey found $18.2 billion will be spent on Valentine’s Day goodies this year.
So what is the most popular item?
Here is a breakdown of what people will be spending their money on:
- 50 percent Candy
- 47 percent Greeting Cards
- 37 percent Evening Out
- 35 percent Flowers
- 19 percent Jewelry
- 19 percent Clothes
- 16 percent Gift Cards
Besides gifts for the significant other, buying Valentine’s presents for pets is popular.
An average of $4.44 will be spent on that furry friend.