Valentine’s Day is a big opportunity for consumers to show they care. Where will they be spending their “love dollars” in 2019?
- According to the National Retail Federation (NRF), the total spending for the holiday is expected to top $18.2 billion—an average of $136.57 per person.
- 20 percent of consumers are expected to buy jewelry, spending a total of $4.3 billion.
- Consumers spend $2 billion on flowers, especially ever-popular roses.
- Americans are expected to spend $1 billion on cards, according to the Greeting Card Association.
- Consumers will lay out a whopping $1.7 billion on candy alone. (Unless they stocked up on “conversation” candy hearts last year, they are pretty much out of luck: The Sweetheart candy manufacturer was acquired by a new company that simply hasn’t had enough time to make the tiny heart-shaped candy in the abundance required.)
The death of candy hearts may matter less to those under the age of 35, one-third of whom say they are not “celebrating,” but still plan to splurge on themselves or spend time with other single friends. And on the plus side, those who do celebrate Valentine’s Day are spending more:
- Even as fewer consumers over the years have made official Valentine’s Day plans, those who do celebrate are spending more than ever.
- Between 2009 and 2019, the average amount consumers planned to spend on Valentine’s Day gifts increased by $60. While gifts for a significant other are still an important part of the holiday, much of the increase is being driven by gifts for other loved ones like family, friends, classmates, pets and even coworkers (consumers will spend $654 million on gifts for co-workers, or about $4.79 each).
We at UNEX hope you and your coworkers have a Happy Valentine’s Day. Don’t eat too much candy. Feel free to call your UNEX Pickologist at your earliest convenience to improve your storage and order picking needs.