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The Average American Will Spend $200 This Valentine’s Day

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Robert Donachie Capitol Hill and Health Care Reporter
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The average American will spend nearly $200 on their significant other this Valentine’s Day.

Total U.S. spending on Valentine’s Day this year is expected to hit $18.2 billion, a 7.6 percent drop from the $19.7 billion spent in 2016, according to the National Retail Foundation (NRF). The decline this year is attributed to a drop in the number of consumers participating in the day’s festivities. Only 54 percent of consumers plan to participate in Valentine’s Day this year, down form 55 percent in 2016.

The drop in participants could be due to the overall cost of celebrating. A dozen roses could cost you as much as much as $140, CNBC reports. Couple that cost with a card, dinner, and a nice gift, and consumers could be spending upwards of $200.

In all, consumers plan to spend some $4.3 billion on jewelry, $3.8 billion on diner and entertainment, $2 billion on flowers, $1.9 billion on clothing, $1.7 billion on candy, $1.4 billion on gift cards/gift certificates and $1 billion on greeting cards, NRF reports.

“Valentine’s Day continues to be a popular gift-giving occasion even if consumers are being more frugal this year,” NRF President and CEO Matthew Shay said in a statement. “This is one day of the year when millions find a way to show their loved ones they care regardless of their budget.”

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