Lovers Expected To Spend More On Valentine's Day

Cadrene Heslop

Have you bought your Valentine a gift yet?

That's the call to action of most February 14 inspired advertising.
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The holiday is about love. But gifts get most of the focus. In 2017, Americans spent 18.2 billion on Valentine's Day presents. The holiday is the second most expensive since 2004. In 2021, U.S. citizens spent 21.8 billion; reports expect spending to increase to 23.9 billion.

These figures are not a huge surprise. Why? Because many consider February 14 the most romantic holiday of the year.
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What do people buy most to wish others Happy Valentine's Day?

No matter the gender, most people opt for traditional gifts. Women pick up greeting cards or candy. Men choose flowers, candy, or jewelry.

Yet, food is the most desirable Valentine's Day reward. 29% of survey respondents wanted chocolate, candy, or other food treats.

Valentine's Day and spending.

37% of people set a $1-150 budget for love day presents and activities. An survey reveals that 5% will set aside more than $250, and only 3% will not plan to spend any money.

Despite these plans, hordes of consumers go over budget. The average shopper spent about $164.76 in 2021. Experts predict this amount will rise to $175.41 in 2022.
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Holidays are an opportunity for brands to make money.

Valentine's Day campaigns will get overshadowed by the Super Bowl. But advertisers continue to market their products.

Most companies do love-based campaigns ahead of February 14 to increase sales. Blogs even create lists ranking commercial celebrations of love.

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*Money Finance Advice Disclaimer: This article is for informational and entertainment purposes only. It should not be considered professional financial or legal advice. The article and the information contained herein are not intended to be a source of advice or credit analysis concerning the material presented, and the information and/or documents contained in this article do not constitute investment, money, or financial advice. The ideas, numbers, and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. This is not a place for the giving or receiving of financial, tax, or legal advice, or advice concerning investment decisions.*

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