A survey by the National Retail Federation suggests Americans are growing weary of the annual commercial lovefest known as Valentine’s Day.
Fewer people are planning to celebrate the day this year — only 50 percent of Americans, ages 18 and older.
Ten years earlier, 63 percent of Americans celebrated Valentine’s Day.
The NRF survey found some interesting trends in the survey:
- More than a third of those under 35 who aren’t celebrating still plan to splurge on themselves or spend some time with a single friend.
- Those who do plan to celebrate Valentine’s Day are spending about $60 more this year than they did in 2009.
- Young people (18-34) who plan to celebrate will do so with “experiential gifts” such as concert tickets or a day at the spa, instead of candy, flowers or cards.
The National Retail Federation estimates consumers will still spend about $20 billion this year on Valentine’s Day gifts and purchases.