Washington — A little more than half of Americans plan to celebrate Valentine’s Day this year, with 48 percent saying they will buy candy for the holiday, according to the National Retail Federation (NRF). Total category sales are expected to reach $1.3 billion for the period.
On average, shoppers will spend $22.18 on candy items for Valentine’s, the retail trade group reports.
On average, each consumer will spend $133.91 on all purchases for the holiday, up slightly from $130.97 during 2013. Total Valentine’s Day spending is anticipated to reach $17.3 billion, the NRF reports, adding men are anticipated to spend an average of $108.38, twice as much as women.
Matthew Shay, NRF president and CEO, says: “Consumers can expect Cupid’s holiday to resemble the promotional holiday we saw just a few months ago, as retailers recognize that their customers are still looking for the biggest bang for their buck.”
In their search for value, 26 percent of consumers say they will turn to online outlets for purchases, a figure that remains steady from 2013 levels. Nearly a quarter of shoppers say they will research products or compare prices on their smartphones, while 32 percent will do so on their tablets.