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Valentine’s Day Spending On The Rise

Now that the Super Bowl is over, it’s time to countdown to — Valentine’s Day.

Chocolatier Prepares For Valentine's Day
Joe Raedle, Getty Images

Times are tough these days and Americans are trying hard to save as much as possible. However, Valentine’s Day is fast approaching and despite a poor economy, experts are predicting a rise in Valentine’s Day spending.

The National Retail Federation conducted a survey and found that Americans will spend about 11 percent more this year than last year. They predict an average of $116 spent on gifts for loved ones, friends, co-workers, teachers and pets.

That’s right, pets - 18 percent of those questioned said they planned to by a gift for their pets. (Yeah I read that line twice also – I think Max may get a bit longer of a walk.)

Overall, it’s shoppers in the 25 to 34 age range who will spend the most this year.

Source: MediaPost.com

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