Candy will be the most popular gift this Valentine's Day, with nearly half of adult consumers giving candy as a gift and spending about $22 on the sweet treats, according to the National Retail Federation’s 2014 Valentine’s Day spending survey conducted by Prosper Insights and Analytics.
This year, 48.7% will buy candy to gift for Valentine's Day compared to 51% last year. However, adults will spend about the same in 2014 as in 2013—about $22, estimated to total $1.39 billion in 2014. Men will spend $108.38 on gifts for their significant others—twice as much as women who will spend $49.41 on their special someone.
Other gifts will include flowers (37.3%) and over half (51.2%) will send greeting cards. Others will give more practical gifts like clothing (15.8%) or gift cards (14%). Nineteen percent will treat their significant other to something sparkly—jewelry spending will total $3.9 billion, and 37% will celebrate with an evening out, spending an estimated total of $3.5 billion.
And Valentine’s Day isn’t just for couples; people will show their appreciation for family members (59.4%), friends (21.7%), teachers (20.4%) and colleagues (12.1%).
Regardless, those who receive candy this Valentine's Day can enjoy their treats without the guilt—a recent study found higher chocolate consumption was associated with lower levels of total fat and abdominal fat, independent of physical activity levels and diet.
