While only 62 percent of adults claim to celebrate the holiday, the projected spending for Americans on Valentine’s Day 2015 was $18.9 billion, according to a National Retail Federation survey. Eater.com further broke down the spending to show that close to $3.6 billion will be spent on a “night out” and another substantial fraction will be spent on the 58 million pounds of chocolate bought throughout the week leading up to February 14.
The same survey revealed that the average shopper was expected to spend $142.31—an increase from $133.91 in 2014—on such things as candy, flowers and other gifts. 25 to 34-year-olds were expected to be the age group with the highest quantity of spending, estimated at nearly $213 per person.
On average, women were also found to spend less money on Valentine’s Day than men ($74 compared to $150), although it is shown that women have a tendency to gift more widely, giving to friends, children and colleagues (as well as the occasional pet).
While official predictions for the spending of 2016 have not yet been released, it seems safe to say that Americans will collectively splurge again this year, especially if the $1.6 billion increase in spending from 2014 to 2015 is any indication of the year to come.
Just make sure to check your bank account before splurging on that Ghirardelli variety pack for your SO (or yourself; we don’t judge)!