Even with a 4 percent decline in people who plan to celebrate Valentine’s Day, Americans are spending more than ever on chocolates, flowers, and jewelry.
In a recent survey conducted by the National Retail Federation, 51 percent of Americans said they plan to celebrate Valentine’s Day in 2019, a 4 percent decline from last year. But despite a dwindling enthusiasm for the holiday of love, Americans are expected to spend a record-breaking $20.7 billion on Valentine’s Day this year, averaging out to about $160 per person.
Business Insider published a video analyzing the NRF’s findings, which estimated Americans will spend $3.9 billion on jewelry and $3.5 billion on an evening out, along with staggering amounts on chocolate, flowers and even greeting cards. Regardless of the reported decline in celebration, it's clear retail and restaurant brands are still feeling the love.
Read the full Business Insider article here.