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Valentine's Day: A $17 billion holiday in the United States

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Another Valentine’s Day in the United States has come and gone, and the data has been calculated again. The incredibly high-priced details included in a Business Insider report on Friday asserts that $17.3 billion have been spent on Valentine’s Day gifts in 2014. The publication gets its figure from the National Retail Federation.

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Reportedly, 73 percent of the gift-giving comes from men, though men have higher expectations of what their gift should be. Men, on the average, expect their love to give them something worth $230. Women, on the other hand, expect a gift valued at $196 – on the average. Those results come from a Chase Bank survey.

Putting the expectations aside, data shows that people actually spend an average of $135.10 on Valentine’s Day gifting which is up 4 percent from 2013. That result is quoted from IBISWorld. Yet, couples who are engaged or dating – as opposed to couples who have already tied the knot – spend approximately $25 more than persons married. Yet another survey claims that nothing is spent on Valentine’s Day by approximately 18 percent of persons in a relationship. Those results come from an organization appropriately called RetailMeNot.

Of those who do receive gifts, however, RetailMeNot says that 63 percent of the gift-receivers believe their partner is a great gift-giver.

Of the many surveys out there regarding the oft-called “Hallmark Holiday,” one survey by the National Retail Federations says that candy is the big winner with approximately 50 percent of Valentine’s Day gifts being sweets. Flowers are given to 37 percent of the people with a love interest they want – or need – to impress. And of those flower-givers, one survey suggests that 51 percent of the flowers given are red roses. Nine-teen percent give jewelry. Basically, impractical gifts are where most of the money is spent for the day, while practical gifts such as clothes are much less popular.

There is the suggestion that some over-spend on Valentine’s Day to make up for a gift-giving day – such a partner’s birthday – that was forgotten. It’s nearly impossible to forget Valentine’s Day due to all of the advertisements that remind everyone when the day is to arrive.

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