Valentines’ Day: Expressing Your Love could be Expensive!

As Valentines’ Day is not very far I am sure all of you out there have some plan or the other. Some of you may give flowers to express your love others might use chocolates as a medium of expression. Whatever you choose to do your motive behind everything is just the same, expression of pure and unconditional love! So how much does this expression of love cost you each year?

Valentines Day - Economics - Infographics

Let’s find out! The National Retail Federation has estimated this year’s expenditure on Valentines’ Day. According to this established institution, as many as 126.03 dollars will be spent this year on Valentine gifts and chocolates which are 8.5 percent more than what had been spent last year on this special day.

Now let’s see how much men and women might spend individually on gifts for each other. According to the estimate, women are likely to spend 85.76 dollars contrary to a sum of 168.74 dollars that will be spent by men. 36 percent of the women might prefer to give flowers as a token of love while 50 percent of them may use chocolates for the same.

On the other hand, 71 percent of the men will go in for flowers as a gift and 68 percent of them might prefer to give chocolates. There is also an estimate on how much one will spend on each family member including pets.

An average consumer is likely to spend 25.25 dollars on parents and children. The amount he or she will spend on friends is estimated to be 6.92 dollars. Now pets cannot be forgotten as they are an inseparable part of the family. 4.52 dollars from Valentine’s expenditure will be spent on them.

Now that online shopping has become popular 40 percent of the people will use their smartphones while 53.8 will depend on their Tablets. Where will the shopping take place and what will be bought is also worth a mention here? 37 percent of the people will head to Discount stores.

17.8 percent of them might choose to go to floral shops. Jewelry stores will be visited by 10.6 percent of the people. Departmental stores will be the choice of 33.6 percent of the people. 20.2 percent of them will head to specialty stores. Lastly, 19.3 percent of them will resort to online stores.

What will be bought at these places? Let’s discuss that. Flowers, candy, jewelry, and clothes are a wide range of options. People may also choose to step out for a romantic dinner. Greeting cards are also considered good gifts. Whatever you choose to do, this Valentines’ Day is sure to rob you of a large sum of money.

Infographics By: OnlineMBA

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