Spending on valentines to rise slightly
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The average consumer will spend $122.98 on Valentine’s Day, similar to last year’s $119.67, the National Retail Federation said.
Total spending on Valentine’s Day gifts is expected to increase to $17.02 billion from $16.9 billion last year, according to a survey conducted by BIGresearch for the retailer group.
The most popular choice remains greeting cards, with 56.8% of those surveyed planning to buy one, down from 62.8% last year. Traditional gifts, including candy, flowers and jewelry, also will be slightly less popular this year as consumers turn to gifts of experience -- such as dinner at a restaurant -- and gift cards.
Men will spend an average of $163.37 on gifts and cards compared with an average of $84.72 spent by women, the survey found.
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