Ahhhh, Valentine’s Day. Or, Singleness Awareness Day if you’re one of the unlucky few without someone today. It’s okay, this writer is currently single and understands how you feel. But for the rest of you lucky ladies and chaps, Valentine’s Day often comes with a price. That is, unless you’re one of those couples who agrees NOT to do something this year.
Only half of all Americans polled said they plan to celebrate Valentine’s Day. Those that do are expected to spend a record amount of money this year. This will leave a handful of companies to look longingly into their earnings this year after it’s all said and done. So, what is the true cost of love?
According to the National Retail Federation, it’s estimated that $20.7 billion will be spent on Valentine’s Day this year. That’s up 6% from last year’s number of $19.6 billion. There are certain industries that thrive during this time of year. In particular, jewelry companies, clothing, candy, flowers, and even gift cards are popular. Here’s how they all break down:
Expected Valentine’s Day Sales for 2019
• Jewelry: $3.9 billion
• Clothing/Lingerie: $2.1 billion
• Flowers: $1.9 billion
• Candy: $1.8 billion
• Gift Cards: $1.3 billion
The Bouqs Company, an online floral retailer, revealed that they can easily make $1 million on special holiday occasions like Valentine’s Day. Mother’s Day is another huge retail day for them as well. Candy companies also do very well. The Ferrara Candy Company makes the popular Branch’s Candy.
Branch’s Candy is hoping to reel in a large number of sales this year due to a new product. They’re calling it Conversation Hearts and so far, it has seen a 10% increase in sales. The company wouldn’t speculate on estimated sales. Yet, the major candy maker Hershey’s also says they expect to have an increase of 3.67%.
http://financialhelpers.com/national-debt-hits-22-trillion-for-the-first-time/
Hallmark says Valentine’s Day is the #2 largest card day only behind Christmas. Each year they create over 900 different Valentine’s Day card designs and sell an estimated 144 million. Cards, flowers, and candy are the main staple around this holiday of love. Jewelry is a big seller too. Tiffany & Co. says their profits are up 15% this year.
Of course, none of these numbers appear to add in money spent on fancy dinners at restaurants. Still, it goes to show how much people are willing to spend to show their love for each other.
