With Super Bowl come and gone, the next big-spending day on the calendar is already coming up next week, with Valentine’s Day. And spending on the lovers’ holiday is expected to be up.
According to the National Retail Federation’s 2011 Valentine’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch, the average person will shell out $116.21 on traditional Valentine’s Day merchandise this year, up 11 percent over last year’s $103.00. Total holiday spending is expected to reach $15.7 billion.
The survey results indicate that people are starting to loosen the purse strings a little, after so many years of cutting back, and plan to buy their significant others cards, jewelry, candy and flowers. Men are also expected to spend nearly twice as much.
The survey also indicates that buying a small gift for co-workers isn’t uncommon.
For the businesses that do well on Valentine’s Day — flower shops, candy shops — they might have to take a different tactic with the holiday falling on a Monday, the Birmingham News article points out. Flower shop owner Dorothy McDaniel, Homewood, will open the day before, a Sunday, and make deliveries that day.
How about you? Do you work in an industry that is affected by Valentine’s Day? Do you hope to see increased spending this year?