The National Retail Federation says fewer consumers celebrate Valentine’s Day but those who do are spending more, and will spend near-record highs today. Total spending is expected to reach $20.7 billion (it was $19.6 billion last year). According to a survey, the average person will spend $161.96; this is up from $143.56 last year. Spending on pets is expected to total $886 million (up from $519 million when NFR first asked in 2008).
Barbara Weltman
Big Ideas for Small Business, Inc.
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