People are going to be spending a lot of money on Valentine’s Day. It is estimated that people will spend a staggering 18.2 million on it. That number is actually lower than last year, as hard as that is to believe. Tickets to a concert, or some other experiential event are really popular this year. Even though the numbers are down many people still will celebrate this holiday.

Key Takeaways:

• U.S. consumers are expected to spend an average $136.57, down from last year’s record-high $146.84. Total spending is expected to reach $18.2 billion, down from $19.7 billion last year, which was also a record.
• Also popular this year are “gifts of experience” such as tickets to a concert or sporting event, a gym membership or an outdoor adventure. While 40 percent of consumers want an experience gift, only 24 percent plan to give one.
• Consumers plan to shop at department stores (35 percent), discount stores (32 percent), online (27 percent), specialty stores (18 percent), florists (18 percent), and local small businesses (15 percent).

“U.S. consumers are expected to spend an average $136.57, down from last year’s record-high $146.84. Total spending is expected to reach $18.2 billion, down from $19.7 billion last year, which was also a record.”

https://www.qsrmagazine.com/news/consumers-will-spend-182-billion-valentine-s-day