Valentine's Day Spending Expected To Take A Dive This Year
Increasingly fewer people are getting swept-up into celebrating Valentine's Day, according to a new survey.
It's estimated that spending for this holiday will drop about 7.6 percent. The survey, conducted by the National Retail Federation, estimates that about $18.2 billion is going to be spent for Valentine's Day sales this year, compared to the almost $20 billion ($19.7) that was spent last year.
Some of the more popular items that people opt for on the day are traditionally: cards, chocolates, and flowers.
Though it is still a popular holiday for many around the world for millions of people who take part, there still remains a decent amount of resentment and dislike for the holiday with many. Aside from those who simply dislike the holiday, other consumers contributing to the downfall in spending overall this year are those who are limited by their financial circumstances and are looking to be more frugal and not spend unnecessarily.
Social pressure causes many people to overspend on this holiday and that doesn't help them or their loved one. And for many folks, they just prefer to ignore this day as if its any other.
Perhaps the lack in spending estimated for this year is more of a glaring insight into the financial reality that most people are facing, rather than an overall decreased trend for interest in the holiday.
This year, consumers say that they are going to be spending about $85 on their loved ones. Others say that for the holiday they will also spend about $26 on family members like children, parents, teachers, friends, co-workers, and even pets.
What Are People Looking To Get This Year?
Pics:
The Fiscal Times
National Retail Federation
Pixabay
Sources:
http://www.nh1.com/news/valentine-s-day-spending-expected-to-take-a-hit-according-to-new-survey/
http://www.lohud.com/story/money/business/2017/02/12/rockland-westchester-stores-ready-valentines-day/97442518/
http://www.forbes.com/sites/brucelee/2017/02/14/if-youre-not-happy-during-valentines-day-youre-not-alone/#11d7b6da8d00
http://www.investopedia.com/news/valentines-day-spending-drops-2017m-jwn/
It's sick how much they charge for a dozen roses! Robbery!
Agreed!
Good that less people are succumbing to the marketing of the commercial people.
The sociology & mktg behind these retail-pumping holidays is pretty powerful. Even though you know it's bs, you can still get sucked in if you're not careful....