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Valentine's Day Spending Up 19%.
Showing your love on Valentine’s Day is costly. According to the National Retail Federation (NRF) 2007 Valentine’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch for NRF, the average consumer will spend $119.67 on Valentine's Day, up from $100.89 in 2006.
With 63.4 percent of consumers planning to celebrate the holiday, total 2007 Valentine's Day spending is expected to reach $16.90 billion.
Men have historically been the big spenders when it comes to Valentine’s Day and this year is no exception. According to the survey, the average male is expected to spend $156.22, nearly double the $85.08 that the average female will spend.
Flowers remain a popular holiday gift, with 58.3 percent of men planning to buy their sweet heart some type of flower (vs. 52.3 percent in 2006). Men will also be showering their loved ones with cards (56.7 percent,) candy (42.9 percent,) an evening out (53.1 percent) and jewelry (27.6 percent.)
When it comes to showing that special someone how much you care, both men and women will hit the stores for the perfect token of affection. Popular gifts include cards (62.8 percent,) candy (48.4 percent) and flowers (36.7 percent.) In addition, close to half of consumers 45.3 percent) will treat their loved one to a special evening out.
No surprise, Approximately 25 percent of women surveyed indicated diamonds were on the top of their wish list.
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