Kelly Hayes
Retailers are expecting to feel the love this Valentine’s Day, with sales across the country expected to hit $23.9 billion this year, according to the Florida Retail Federation.
That’s right — the National Retail Federation has just released survey findings that show consumers are expected to spend up to $2.1 billion more compared to the last year.
“Floridians are set to spoil that special someone this Valentine’s Day,” Scott Shalley, president and CEO of the Florida Retail Federation, said in a statement. “Our retailers have everything you need to show your love and affection. Remember to Find it in Florida and support local retailers as you celebrate this special day.”
The increased spending expected in 2022 will also make for the second-highest year on record for Valentine’s Day spending, with 53% of shoppers planning to celebrate this year with a partner.
As more than half of consumers are planning something special for the holiday, most will spend more this year compared to last year. Shoppers are projected to spend $175.41 on average to show their love, up from $164.76 in 2021.
About 22% of shoppers planning to gift something sparkly, perhaps to shine some light after a tough year. Total spending on jewelry this year is estimated at its highest at $6.2 billion, up from $4.1 billion in 2021.
And, couples are also celebrating the holiday with food (yum!).
The top five items that consumers plan to purchase this holiday include candy (56%), cards (40%), flowers (37%), a night out (31%) and jewelry (22%).
The FRF is encouraging shoppers to show their love by buying local using the “Find It In Florida” program on its website.
