FOR IMMEDIATE RELEASE
FEBRUARY 3, 2021
CONTACT: Amanda Bevis (202) 680-9262
Importance Of Valentine's Day Balloons to 73% During Pandemic, But Spending Will Fall
Tallahassee, FL – The Florida Retail Federation (FRF) announced today that more than half of Florida consumers plan to celebrate Valentine’s Day this year. Floridians are looking to spread the gift of love this year, according to a survey released by the National Retail Federation. The data revealed that 73% of customers feel celebrating this year is important given the pandemic.
Consumers plan to spend an average of $164.76 this Valentine's Day with nationwide spending projected to reach $21.8 billion, compared to $27.4 billion last year.
“After a difficult year, Floridians are looking forward to celebrating this Valentine’s Day,” said Scott Shalley, president and CEO of Florida the FRF. “It’s the perfect time to show your spouse and other loved ones how much they are appreciated.”
Although Valentine's Day spending is down this year, shoppers still plan to invest in their relationships. Here’s how much shoppers plan to spend this season by recipient:
- Significant other/spouse - $11.7B
- Other family members - $3.6B
- Friends - $1.6B
- Children - $1.4B
- Pets - $1.3B
- Co-workers - $1.1B
- Other - $1.0B
Similar to the previous year, the biggest spenders this Valentine's Day are those aged 35 to 44 who plan to spend $264 this year and the younger lovebirds - aged 25 to 34 - will spend $240 to celebrate the holiday.
“When looking for that special Valentine's Day gift, please be sure to shop local and find it at a Florida retailer,” said Shalley. “When you support Florida businesses, you spread the love to your community and local economy.”
Consistent with last year’s trends is the difference in spending between males and females. This year, males are projected to spend $231 on average while females are projected to spend $101.
Here are the categories that lovebirds plan to indulge in:
- Candy – 54%
- Greeting cards – 44%
- A special dinner or celebration at home - 41%
- Flowers – 36%
- An evening out – 24%
- Gift cards – 21%
- Clothing – 20%
- Jewelry – 18%
For more information on the predictions of the National Retail Federation, visit: https://nrf.com/insights/holiday-and-seasonal-trends/valentines-day
ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.
ABOUT THE NATIONAL RETAIL FEDERATION
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.