Valentine’s spending expected to top $27B; that’s a record

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(Gray News) – Americans are digging deep for jewelry, candy, flowers and other gifts this Valentine’s Day.

Those celebrating the holiday said they plan to spend an average $196.31, up 21% from last year’s record, according to the National Retail Federation.

A solid economy is giving the holiday a boost.

“The same strong employment numbers and higher wages that boosted holiday sales should make it easier to spend a little extra to say ‘I love you’ this year,” NRF President and CEO Matthew Shay said.

Total spending will reach $27.4 billion, according to NRF estimates.

More than half of the money will go toward significant others, followed by other family members, friends, children’s classmates, co-workers and pets, NRF said.

Those celebrating the holiday said they plan to spend an average $196.31, up 21% from last year’s record.
Those celebrating the holiday said they plan to spend an average $196.31, up 21% from last year’s record. (Source: National Retail Federation)

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