Valentine’s Day is just around the corner and a new survey has revealed a startling details.
As per the new survey, Americans are planning to spend more money than ever on gifts and dates for their loved ones.
US consumers are expected to spend around $27.5 billion on Valentine’s Day this year, which is much higher than the spending records of $25.8 billion in the previous year.
More than 56% of people plan to celebrate Valentine’s Day this year, which is up from 53% from the previous year.
As per the reports, this increase is mainly driven by men with 55%.
Here’s what people are buying:
Consumers are looking for unique ways to treat their loved ones!
Traditional gifts like candy, flowers and greeting cards are still the most popular choices.
Specifically, 56% of people plan to buy candy, 40% will choose flowers and 40% are expected to buy greeting cards.
Additionally, spending on different stuff is also expected to be high, with $6.5 billion on jewellery and $5.4 billion on dinners or events.
Spending on gifts for significant others is expected to reach a record $14.6 billion this year, an increase from $14.2 billion last year.
Shoppers are buying gifts for friends (32%), co-workers (19%) and pets (32%).
Online shopping remains the top choice with 38% choosing it over other options.
Other common shopping locations include department stores, discount stores and florists.
Even those who aren’t buying many gifts still plan to celebrate with 28% either treating themselves or spending some quality time with friends and family.
