You might want to brace yourself for Tuesday if you’re expecting a gift from your significant other: Valentine’s spending is expected to be less this year.
Last year, America spent nearly $20 billion on Valentine’s Day. Last year, it was estimated that the average man would spend $133.61 on gifts this year compared to $62.14 for women.
But if the Valentine’s Day gift this year doesn’t seem quite as extravagant as the one you received last year, try not to read too much into it. A new survey says Valentine’s spending will likely be lower this year.
In fact, it’s predicted that Valentine’s spending will drop for the first time in decades.
The National Retail Federation estimates lovers will spend about $18.2 billion this year. And nearly $2 billion of that will be spent on flowers alone.
So why the drop? No one has come up with a definitive explanation, other than the suggestion that with all the uncertainty with a new president and the economy, people may simply be a bit more frugal this year. A business professor said he doesn’t believe the drop this year is “significant.”
Still, I bet retailers won’t see it that way!
For some, Valentine’s Day is an occasion to mourn either the loss of a loved one or just not having one. They see it as a sad occasion and would probably prefer not to be reminded of all the romance in the air.
That’s a shame: someone who lacks romance shouldn’t wish it wouldn’t exist for others.
For others of us, it’s just another day. Some refer to it as “Singles Appreciation Day” and celebrate it alone. There have been years when I’ve gone out to a nice quiet dinner solo and when I received the check at the end of the meal, I thought to myself, “I’d be paying twice this amount if I had a date!”
It all depends on how you look at it.
I hope your Valentine’s Day is a good one, whether you celebrate it with someone close or by yourself.