• by Jack Loechner , Staff Writer @mp_research, February 7, 2011

According to the National Retail Federation's 2011 Valentine's Day Consumer Intentions and Actions Survey, by BIGresearch, the average person will spend $116.21 on traditional Valentine's Day merchandise this year, up 11% over last year's $103.00. Total holiday spending is expected to reach $15.7 billion.

Adults 25-34 will spend an average of $189.97, compared to the $60.22 adults 65+ will spend. Men will spend the most on Valentine's Day gifts, at $158.71 each, twice as much as the average woman.

NRF President and CEO, Matthew Shay, says "Having surpassed expectations during the holiday season...  consumers are not done spending on gifts... jewelry, candy and apparel sales should provide a boost for retailers during the typically slower months of January and February... "

Average Valentines Day Spending
Year	All Spending	Spending on Spouse or Significant Other
2007	$119.67	$80.29
2008	122.98	79.99
2009	102.50	67.22
2010	103.00	63.44
2011	116.20	68.98
Source: National Retail Federation/BIGresearch, January 2011

Having cut back on spending in recent years, couples this year will spend an additional $5 on their significant other or spouse.  Even family pets will benefit more this year, with the average person spending $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.
While greeting cards will be the most popular gift option, with 52.1% of consumers buying, jewelry is expected to be a big hit as well with 17.3% planning on buying something sparkly, up from 15.5% last year.
Spending across the board is expected to be up this year, says the study. Consumers are expected to spend:

1. $3.5 billion on jewelry, up from $3.0 billion last year
2. $1.6 billion on clothing vs. $1.5 billion in 2010
3.  $3.4 billion on dining out vs. $3.3 billion in 2010
4.  $1.7 billion on flowers,
5. $1.5 billion on candy
6. $1.1 billion on greeting cards

The study identifies the most popular shopping destinations, with 36.6% of shoppers buying at discount stores. Additionally:

• 30.5% at department stores
• 19.4% at specialty stores
• 18.1% online
• 16.8% at the local florist
• 9.5% at a jewelry store

With co-workers, children and children's classmates/teachers to buy for, young couples/parents will spend far more than their parents or grandparents on Valentine's Day.

For more about the survey and the NRF, please visit here.