Sixty percent of Americans will give Valentine’s Day gifts this year and will spend an average of $131 – up $4 from last year. That’s according to the annual survey from the National Retail Federation (NRF). Men will spend significantly more than women ($175.61 to $88.78).
Half of gift givers say they will buy candy, and one-third will give flowers. Jewelry comes next, with a 19.7 percent buy-in, while 15 percent will buy clothing. Twenty percent of Americans plan to buy a Valentine’s Day gift for their pet.
Debt.org recently hit the streets to ask folks what’s the cheapest Valentine’s Day gift they’ve given — and received.
Transcript: “What’s the cheapest Valentine’s Day gift you’ve ever given?
Person #2: Probably chocolate. A box of chocolate.
Person #3: Nothing.
Person #4: This is a terrible Valentine’s Day present but a sweater. He asked for a sweater for weeks so I gave it to him for Valentine’s.
Person #5: Me.
Person #6: Cheapest Valentine’s present was a stuffed bear from one of those claw machines. Ah, probably cost me 50 cents at most. Dollar. I don’t remember but that was the cheapest one.
Person #7: My love.
Person #8: Probably a teddy bear from Wal-Mart.
Person #9: Um, I don’t know I think it was like flowers or something.
Person #10: Probably a card or a hug or something like that.
Person #11: Not proud of that but it was like a dollar flower I got from like a stand on the side of the road.
Person #12: Rose.
Person #13: I don’t know I think nothing.
Person #14: Um, probably a card.
Person #15: I’m not certain I’ve actually given Valentine’s Day-though my wife would say that the cards I get her I guess are the cheapest things. I give her something every day so every day is Valentine’s Day in our house.
Person #16: Probably just chocolate and flowers.
Person #17: Probably a card.
Person #18: Um, I don’t know probably something homemade.
Person #20: For Valentine’s Day I actually don’t even think I’ve ever gotten anyone a Valentine’s Day gift.”
Transcript: “What’s the cheapest Valentine’s Day present you’ve ever received?
Person #1: A card.
Person #2: Probably a kiss.
Person #3: Well once in high school I was just given a note and it wasn’t on any paper it was just on a post-it note. But she was pretty nice.
Person #4: Nothing.
Person #5: A handwritten note I think.
Person #6: A handmade card.
Person #7: Yeah a card.
Person #8: Um, I know last year I got a homemade little paper origami box with a heart on it.
Person #9: Probably a teddy bear and some Godiva chocolates.
Person #10: Nothing.
Person #11: Uh, you know I have no idea honestly.
Person #12: That’s a hard one cause a lot of people don’t give me presents so um I think it was uh chocolates. I don’t know. Pretty sure it was chocolates.
Person #13: Probably, maybe a shirt.
Person #14: I believe that I am without presents yet on Valentine’s unless you consider a card a present. No money in the card. Just a card. Her sentiments are good, good enough for me.
Person #15: Wishes. Friendship.
Person #16: The cheapest Valentine’s Day present probably one of those 50 cent carnation grams in middle school and high school.”