Teddy bears, chocolates, jewelry, and flowers – who would have guessed that these items would make up the majority of an $18.6 billion Valentine’s Day holiday? Valentine’s Day, whose origins are shrouded in mystery, is one of the most lucrative holidays in the year for retailers with more than $4 billion being spent on jewelry alone. Men will be responsible for approximately $12 billion of this, as they average twice as much as women shopping for this holiday.
“It’s a holiday with a lot of cash. It’s a lot of sales,” says Ron Friedman, who leads Marcum Consulting’s retail business. “Although, it’s pretty short-lived. The flowers die, the candy gets eaten up, and the lingerie gets destroyed in a couple minutes.”
Check out the infographics here to learn about consumer spending for Valentine’s Day including more details on how, where, and from whom money was spent for the holiday of love.