Cupid is expected to deliver good news to retailers this year.
Consumers will spend an average of $142 on candy, flowers, apparel, dinner, jewelry, gift cards and other gifts, up from $134 last year, a 6 percent increase, according to the National Retail Federation’s Valentine’s Day consumer spending survey.
Total spending is expected to reach $18.9 billion during the fourth biggest spending season of the year, behind Christmas, back-to-school shopping and Mother’s Day. Easter comes in fifth.
Men will spend nearly double what women plan to spend ($191 versus $97 on average, respectively), according to the survey.
Additionally, adults 25 to 34 will outspend other age groups at an average of $213; 35- to 44-year-olds will spend an average of $176 and 18- to 24-year-olds will spend an average of $169.
The NRF called the upbeat survey a good sign for consumer sentiment heading into the new year.
Reach Warren L. Wise at 937-5524 or twitter.com/warrenlancewise.