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CONSUMER SPENDING
Valentine's Day spending in the United States is expected to top $17.6 billion, according to new survey results released by the National Retail Federation.
Spending is expected to be highest on jewelry ($4.1 billion) followed by $3.5 billion on a date, $1.8 billion on flowers, $1.5 billion on candy, with the balance accounted for by clothing, gift cards, and other items.
That works out to $126 per person celebrating the holiday. This is an 8.5 percent increase over spending in 2012, and the highest in the survey's decade-long history.
"...the average person planning to spend $74.12 on their spouse or significant other, up from $68.98 last year. Additionally, consumers will spend and average of $25.25 on their children, parents or other family members and $6.92 on friends. Valentine’s Day is a great day for pet owners to show their furry friends just how much they mean: the average person will spend about $4.52 on their pets."Source: National Retail Federation 2012 Valentine’s Day Consumer Intentions and Actions survey
FLOWER POWER
U.S. producers sold more than $18 million in cut roses in 2011 (estimated wholesale value for all operations with $100,000 or more in sales).
Source: USDA National Agricultural Statistics Service Floriculture Crops 2011 Summary
To support holiday spending, shoppers can choose from nearly 24,000 jewelry stores and more than 16,000 florists nationwide.
Source: U.S. Census Bureau, County Business Patterns
SWEET TOOTH
To satisfy millions of sweet-toothed customers, the NECCO candy company produces approximately 100,000 pounds of Sweethearts conversation hearts each day for 11 months of the year.
This adds up more than 8 billion heart-shaped candies annually.
Source: New England Confectionery Company
A 2009 study from Nielsen research showed that Valentines week accounts for more than 5 percent of annual chocolate sales.
Source: Nielsen
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