Valentine's Day is sweet for retailers - KCBD NewsChannel 11 Lubbock

Valentine's Day is sweet for retailers

(RNN) – No one said love was cheap.

When Cupid’s arrow pierces your heart, it hits your wallet, too.

The National Retail Federation estimates Americans will spend $19.6 billion this Valentine's Day.

That breaks down to each of us shelling out about $145 on gifts. That’s $7 more than last year’s average.

Here’s what we’re spending on each other:

  • significant others - $89
  • kids and parents - $25
  • friends and teachers - $7
  • pets - $6

That’s probably why retailers love the holiday.

Here’s what we’ll spend our money on:

  • jewelry - $4.7 billion
  • a night out - $3.7 billion
  • flowers - $2 billion
  • clothing - $1.9 billion
  • candy - $1.8 billion
  • cards - $894 million

All in all, it makes for one sweet celebration.

Copyright 2018 Raycom News Network. All rights reserved.

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