• by Jack Loechner , Staff Writer @mp_research, February 6, 2004

Twelve Billion Dollars of Hearts And Flowers On Valentines Day

The NRF 2004 Valentine's Day Consumer Intentions and Actions Survey, conducted by BIGresearch, found that the average consumer will spend $99.24 on Valentine's Day, up from $80.44 last year. In all, Valentine's Day spending is expected to reach $12.79 billion this year among 59.8% of American consumers who will celebrate Valentine's Day.

• 92.8% many consumers plan to purchase Valentine's Day gifts for their spouses or significant others.
• 69.1% plan to purchase gifts for other family members like children and parents.
• 28.4% of consumers also plan to purchase gifts for friends, and 26.0% for children's classmates or teachers.

NRF President and CEO Tracy Mullin said "Valentine's Day has become a very big business for retailers in what is traditionally one of the slowest shopping months of the year."

• 73.3% of consumers will purchase a greeting card this Valentine's Day and 53.2% will be buying candy.
• 44.4% of couples will also go out for the evening on Valentine's Day,
• 64.9% of men and 16.2% of women will purchase flowers as gifts this Valentine's Day.

The survey also found that young adults lead Valentine's Day spending, with the average 18-24 year-old planning to spend $154.65 on the holiday. Spending drops dramatically for 25-34 year-olds, who only plan to spend $78.30 on the holiday.

Other Valentine's Day facts:

• More cut flowers are sold for Valentine's Day than any other holiday, according to the Society of American Florists.
• Valentine's Day is the second most-popular card-sending holiday, according to the Greeting Card Association.
• According to the National Confectioners Association, Valentine's Day ranks fourth in candy sales, after Halloween, Easter, and the Thanksgiving through New Years holidays.
• More than 36 million heart-shaped boxes of chocolate will be sold this year for Valentine's Day, according to the Chocolate Manufacturers Association.

You can find out more here.