Americans are expected to spend $18.2 billion on Valentine's Day this year, according to an estimate from the National Retail Federation. According to us, that's ridiculous.
The average person, the NRF projected, will spend about $137 on gifts — which is down from last year's record high of $147, but still. The data comes from a survey of over 7,500 consumers conducted by Prosper Insights and Analytics, as Mic reported.
It should come as no surprise that a huge chunk of this cash — $4.3 billion — will likely be spent on jewelry. In addition, people will spend $3.8 billion on going out, $2 billion on flowers, $1.9 billion on clothing, $1.7 billion on candy, and $1 billion on greeting cards.
Common sense suggests that there's no need to drop so much dough. But now, there's data to back this up, too.
Influenster, the product discovery and reviews platform, conducted a survey of 6,899 women to find out their thoughts about Valentine’s Day. Two-thirds of the women think $21 to $100 is a perfectly appropriate range to spend on the holiday, which is a lot less than the $137 we spend on average. When asked what types of gifts they'd like to receive, 71% of the women said they prefer pampering presents (like a spa day), and only 63% want physical gifts. So it may be time to swap the jewelry for a day of self-care. Additionally, according to the NRF, fewer people are even celebrating Valentine's Day this year — 54% compared with 63% in 2007. This leads us to think it's finally time to put a nail in the coffin of Valentine's Day consumerism. And if you do celebrate, consider a couples' spa treatment instead of the obligatory nice dinner out. Another option is to make it a day for giving back, and donate to a worthy cause, like electing more women to office. It's as easy as downloading an app — and a lot more spiritually rewarding than a bauble or a box of candy.
Influenster, the product discovery and reviews platform, conducted a survey of 6,899 women to find out their thoughts about Valentine’s Day. Two-thirds of the women think $21 to $100 is a perfectly appropriate range to spend on the holiday, which is a lot less than the $137 we spend on average. When asked what types of gifts they'd like to receive, 71% of the women said they prefer pampering presents (like a spa day), and only 63% want physical gifts. So it may be time to swap the jewelry for a day of self-care. Additionally, according to the NRF, fewer people are even celebrating Valentine's Day this year — 54% compared with 63% in 2007. This leads us to think it's finally time to put a nail in the coffin of Valentine's Day consumerism. And if you do celebrate, consider a couples' spa treatment instead of the obligatory nice dinner out. Another option is to make it a day for giving back, and donate to a worthy cause, like electing more women to office. It's as easy as downloading an app — and a lot more spiritually rewarding than a bauble or a box of candy.
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