Lovers will romance their sweeties with more chocolates, rings, clothing and other goodies this Valentine's Day compared to last year's festivities, the National Retail Federation reports.
The organization says shoppers will spend an average of $116.21 on flowers, cards and other wooing gifts this year. That's an 11-percent increase over last year's average of $103. Overall, shoppers will shell out $15.7 billion, the NRF notes.
Jewelry, candy and clothing will be among the top gifts, with sales of these expected to reach $3.5 billion, $1.6 billion and $1.5 billion, respectively. Shoppers will also spend $1.7 billion on flowers and $1.1 billion on Valentine's Day cards.
"Having surpassed expectations during the holiday season, it seems consumers are not done spending on gifts, which bodes well for the economy," notes Matthew Shay, president and CEO of the NRF.
Men will outspend women by more than double on Valentine's Day gifts, spending an average of $158.71 compared to an average of $75.79 by women. Adults ages 25 to 34 will also be more generous in their Valentine's Day giving, and are expected to spend $189.97 on average compared to $60.22, the average for shoppers 65 and older.
Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.
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