In the U.S., 54.8% of consumers celebrate Valentine's Day (which is tomorrow), and many buy presents for their significant other. The average amount spent per consumer reached $146.84 in 2015, according to new data from MarketResearch.com.
The gifts given most often include candy, cards, flowers, jewelry, clothing, and eating out or dining. Candy is one of the most common Valentine's Day gifts, with 47.5% of people giving it as a gift. Approximately $1.7 billion is expected to be spent on candy for Valentine's Day. In the U.S., 81% of Americans eat chocolate, making it a popular choice for the holiday.
Retail outlets and foodservice establishments benefit from Valentine's Day as it is becoming a high spending holiday. According to the Retail Advertising and Marketing Association, $403 million in revenue is generated from the sale of domestically cut flowers and $2.2 billion is generated from jewelry stores in the U.S. during Valentine's "season."