Are you ready for another coronavirus pandemic influenced holiday? Valentine’s Day is coming up in two weeks, and according to the National Retail Federation and Prosper Insights and Analytics survey, Americans are going to spend about $2.8 billion celebrating it with their loved ones.
Their report goes on to say that 73% of adults feel it’s important to celebrate this year even more than usual, given everything people have had to endure for the past 11 months or so. Matthew Shay, the CEO of the company that did the survey said “There remains a special significance around Valentine’s Day, and consumers are committed to celebrating friends and loved ones, even if that means having to alter those traditional holiday celebrations.”
The city of New York just announced they will allow indoor dining at 25% occupancy starting February 14th, and other big cities like Los Angeles only allow outdoor dining now, so the money spent in 2021 on Valentine’s Day will be distributed a little differently than normal.
The report said only 24% of consumers will spend an evening out with their loved ones, which is the lowest number in the survey’s history. 41% of those polled said they are planning something special at home.
Most of th money spent on Valentine’s Day gifts goes to candy, card and flowers. The study says consumers will spend an average of $164.76 this year, which is down $32 per person.
The survey polled about 8,000 adults from Jan. 4 – Jan. 12 to get their results.