Report: Valentine's Day spending expected to increase this year
(CNN) – Cupid’s arrow may puncture your wallet.
The National Retail Federation said Americans will spend a total of $19.6 billion this Valentine’s Day.
That’s a lot of flowers and chocolate, and it’s more money than last year.
The federation said people plan to spend an average of around $145 on Valentine’s Day gifts, which is about $7 more than last year.
Consumers plan to spend around $90 on their significant others.
Kids and parents will also feel the love, getting roughly $25 worth of stuff.
Most plan to allocate around $7 for teachers and friends.
And man’s best friend will get a little something to the tune of about $6.
Average jewelry sales could hit $4.7 billion. Around $2 billion is expected to go to flowers, and $1.8 billion could go to candy.
And $894 million could be spent on cards.