The National Retail Federation say Valentine’s Day spending will bu up 8.5% to a record $17.6 billion. The study has been conducted for 10 years. If the number is right, it would show that consumer spending continues to hold its own. There could be several reasons for that. One is that unemployment is down. Another is an overall rise in consumer sentiment, at least based on a number of national surveys for firms like Gallup and the Conference Board. Still another may be the extension of tax cuts into 2012.
The survey also found the average male is expected to spend $168.74 on clothing, jewelry, greeting cards and more this year – nearly twice as much as women who are expected to spend an average of $85.76.
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