Bigger spending this Valentine’s Day
BY SANDRA GUY Business Reporterfirstname.lastname@example.org February 14, 2012 10:16AM
Updated: May 9, 2012 10:15AM
As women tweet their hearts out about Valentine’s Day — research shows they tweet twice as frequently as men about it — both men and women are forecast to spend 8.5 percent more on Tuesday’s special day from a year ago, marking the biggest amount in the survey’s 10-year history.
Consumers are expected to spend $126, on average, with men spending about twice as much as women ($168.74 versus $85.76) on clothes, jewelry, greeting cards and gift cards, according to the National Retail Federation’s spending survey. Topping the list is jewelry, garnering a total of $4.1 billion in spending, up 17 percent from a year ago, followed by a special evening out ($3.6 billion), flowers ($1.8 billion), candy ($1.5 billion), clothes ($1.45 billion) and gift cards ($1.2 billion), the survey showed. Americans spend a collective $17.6 billion on Cupid’s special day.
The increased spending may not reflect everyone’s joy about the holiday, however, since the NM Incite survey about tweeting showed that men’s tweets about Valentine’s Day are more negative than women’s, with most of the complaints dealing with not having a date and disliking the day’s expectations.