The economy is having a love affair with Valentine’s Day.
The National Retail Federation reports love-struck folks around this great nation of ours will cough up a whopping $17.3 billion in presents this Valentine’s Day.
On average, a person will spend $133.91 on presents (although sometimes it can be more -- way more). That’s about three dollars more than last year. Men will fork over $108.38, which is more than twice the amount women will pony up (they’ll spend an average of $49.41).
And don’t think Valentine’s Day is solely for romance. Nearly 60% will also buy presents for relatives, while friends (21.7%), teachers (20.4%), pets (19.4%) and co-workers (12.1%) will also be recognized.
About 54% of people in the US will celebrate Valentine’s Day, a slight dip from the 60% who did so in 2013.