Valentine’s Day is soon approaching. But, is it a day for love or a simple boost for the economy? Let’s take a look at the facts.
According to Bloomberg Business, consumers spend more than $17.6 billion on Valentine’s Day. A survey done for the National Retail Federation shows that the 59 percent of Americans who plan to celebrate Valentine’s Day spend on average $126. But, what exactly do we buy? Bloomerg Business shares an estimate on how much is spent on each item. You’ll be shocked at the amounts.
A whopping 143 MILLION pounds of candy and 86 MILLION pounds of chocolate will be sold this Valentine’s Day season. That’s a lot of treats!
About 200 million roses are grown for Valentine’s Day. According to Bloomerg, most of these come from Columbia who send us 12 percent of their flower output to the U.S. during Valentine’s Day.
Can you guess how many cards are sold during Valentine’s Day? More than 144 million cards, making this holiday the second-largest for greeting cards.
Dining at your favorite restaurant this V-Day? Sales are expected to rise 6.1 percent to around $9.5 billion.
But who’s spending all this money? A survey from the National Retail Federation shows just who’s opening their wallet. Surprisingly, single men are the ones who spend the most money, followed by married men, single women, and married women coming in last, spending on average only $20.
There isn’t just an emotional importance to this holiday. Restaurant and retail owners are relying on this special day for a BOOST in their profits! Valentine’s Day and the economy sure have found their perfect match.
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