Feb 7, 2011

Chocolate, roses, lingerie are mainstays of booming love-oriented retail holidayBy Kara KimbroughLeaderCall.com

Laurel — Cupid is on the prowl this week in anticipation of 2011 Valentine’s Day next Monday, and that means big business for some area businesses. Valentine’s Day has captured the hearts and wallets of consumers, growing until it now trails only to Christmas and Halloween in retailers’ holiday sales. In Jones County, area florists, pharmacies and department stores were gearing up last week for what is expected to be the biggest Valentine’s Day for retailers in recent year.

The National Retail Federation reports most American men will spend an average of $157.71 for Valentine’s Day merchandise, while women will spend $75.79 each, on average. This figure is up 11 percent over the last year’s Valentine spending.

Even family pets will be feeling more of the love this year. The average person will spend $5.04 on their furry friends, up from $3.27 last year. Consumers will also spend an average of $6.30 on friends, $4.97 on classmates and teachers, and $3.41 on co-workers.

Consumers will spend $3.5 billion on jewelry this Valentine’s Day, $1.6 billion on clothing, and $3.4 billion on a night on the town. Additionally, celebrants will spend $1.7 billion on flowers, $1.5 billion on candy and $1.1 billion on greeting cards. Total holiday spending is expected to reach $15.7 billion.

Read complete article.