Small Decline Expected in Valentine’s Day Jewelry Purchases

U.S. consumers plan to spend an average $102.50 on Valentine’s gifts and merchandise, down from last year’s $122.98 per person, a recent survey found. Total Valentine’s Day spending by adults is expected to reach $14.7 billion.

Consumers are somewhat less likely to buy jewelry, with 16 percent of people saying they will buy jewelry, compared to16.6 percent in 2008, according to the National Retail Federation’s 2009 Valentine’s Day Consumer Intentions and Actions survey, conducted by BIGresearch.

Over one-third (35.7%) of people will buy flowers, nearly the same as last year’s 35.9 percent. In addition, more people this year will send greeting cards than they did last year (58.0% vs. 56.8% in 2008).

“This year more than ever, consumers will look for creative and inexpensive ways to show those they love how much they mean to them,” said NRF President and CEO Tracy Mullin.

The majority of people (90.8%) will spend the most on their spouse ($67.22), with other family members such as children getting about one-fifth of their budget ($20.95).

The 35-44 year old age group will spend the most this year with the average person planning to shell out $119.19. Young adults 18-24 will be the second biggest spenders at an average of $113.68 per person, followed by 45-54 year olds ($108.82), 25-34 year olds ($105.59) and 55-64 year olds ($83.76).