Valentines Shopping – Billions to be spent on Valentines Day
Valentines Shopping. People across the world are celebrating Valentines Day Today. Spending on Valentines Day is expected to gain a boost after two long years of COVID pandemic. COVID pandemic had hampered the celebration for two years and consumers are expected to celebrate the Valentines Day in a greater scale than last year.
Valentine’s Day is a popular holiday celebrated on February 14th each year in many countries around the world, including the United States. It is a day when people express their love and affection for their romantic partners, family members, and friends. According to the National Retail Federation (NRF) of USA, in 2021, US citizens were projected to spend close to US$ 24 billion on Valentine’s Day-related items.
Gifts were expected to be the most popular category of Valentine’s Day spending, with the majority of purchases being on Jewelry, Chocolates, and Gift Cards. Jewelry is a traditional gift for Valentine’s Day, with many people choosing to buy items such as necklaces, bracelets, earrings, or rings for their loved ones. Chocolates are another classic Valentine’s Day gift, with many brands releasing special editions or gift sets for the holiday. Gift cards are also a popular choice, allowing the recipient to choose their own gift and ensuring that they will be happy with what they receive.
In addition to gifts, people also tend to spend money on other Valentine’s Day-related items such as greeting cards, flowers, and romantic dinners. Greeting cards are often exchanged between romantic partners, family members, and friends, with many people opting for personalized or handmade cards. Flowers, especially red roses, are also a popular Valentine’s Day gift, with many florists offering special arrangements and deals for the occasion. Finally, romantic dinners or outings are a common way to celebrate Valentine’s Day, with many couples choosing to go out to a fancy restaurant or plan a special date night.
Overall, Valentine’s Day is a significant holiday for many people, and the amount of money spent on gifts and other items reflects the importance that people place on expressing their love and appreciation for their loved ones.
A considerable amount will also be spent on Restaurant outings. US Consumers are expected spend a little over US$ 4 Billion on Restaurant outings this Valentine.
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