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Survey Shows Consumers Will Be Cautious in Valentine's Day Spending

How much will Kingstowne residents spend this holiday? The National Retail Federation's survey shows that people won't pay the big bucks to express their love this year.

A National Retail Federation (NRF) survey — conducted by BIGinsight — revealed only a slight increase in expected sales this year with the average person planning to spend $130.97 on candy, cards, gifts and more, up from $126.03 last year, according to a recent news release. Total spending will reach an estimated $18.6 billion.

“Valentine’s Day remains one of the biggest gift-giving holidays of the year, and although consumers will be conscientious with their spending, it’s great to see that millions of Americans are still looking forward to celebrating with their loved ones,” said NRF President and CEO Matthew Shay in a statement.

The survey also showed that about 51 percent of gift givers will buy candy, spending a total of $1.6 billion and another 36.6 percent will give flowers, with total spending expected to top $1.9 billion. Others will buy their loved ones jewelry (19.7 percent) and clothing (15.6 percent). Gift cards will also be at the top of shoppers' lists.

Kingtowne residents are already buying flower arrangements from local shops Festival of Flowers and Christopher's Flowers as they've been receiving orders since the end of January, florists told Patch.

NRF's survey also revealed the average man will spend significantly more than the average woman this year. Men will spend an average of $175.61 on jewelry, a romantic evening out, flowers and more, while women will only spend about $89.

Additionally, four in 10 consumers will shop for gifts using their smartphones, and about 26.3 percent will shop online for Valentine's Day gifts, an increase from last year's 19.3 percent.

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