Americans Are Spending Major Cash On Loved Ones This Valentine’s Day

American’s are projected to spend nearly $20 billion this Valentine’s Day. That’s according to the National Retail Federation, which means American’s are really blowing the bank this year for the ones they love. The NRF surveyed over 7,000 consumers to see what they were planning on sending, or had already spent, for February 14th. In 2016, the amount spent was just a shade under what it is this year, which means no one has really scaled back on spending. Here’s a little breakdown of the spending: individuals will spend an average of $144 on things like greeting cards, chocolates, flowers, jewelry and a nice night out.

Though, it’s not just loved ones who are going to be winning this V-Day. CNBC reports that coworkers and friends are also going to be the recipients of some awesome gifts, too. Individuals will most likely spend an average of around $5 on coworkers or friends at the office. But it’s millennials who will top the charts this year. Those who are 25-34 will be spending around $203 per person.

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6 years ago