GREENVILLE, N.C. (WNCT) – Millions of Americans will be spreading love on Valentine’s Day Tuesday, but new numbers show it definitely isn’t cheap.
According to the National Retail Federation, each American is expected to spend about $135 on the holiday. That comes in at a whopping total of $18.2 billion. Over $4 billion of that will be spent on jewelry, another $2 billion just on flowers, and the rest falls mostly under cards, clothes, and going out to celebrate.
The industry is so profitable, there’s even a pop-up valentine’s shop in Greenville called The Valentine Shoppe. It’s only open 2 weeks a year and this is its 28th year.
“a lot of people of course procrastinate and come in at the last minute but we still have plenty to choose from. But it’s good. People love to spend money for Valentine’s and come in and buy,” said Daphne Cruse with The Valentine Shoppe.
According to WalletHub, 94% of people want to receive chocolate for the holiday.
Love isn’t in the air for everyone though. Spending this Valentine’s Day is expected to drop about 8% from last year and 9% fewer people plan to celebrate.