The countdown to Valentine’s Day is on and it appears that retailers in Nebraska will be busy. Kathy Grannis is a spokesperson with the National Retail Federation and says a new survey shows individual spending will be up eight-and-a-half-percent this year and $17.6-billion will be spent on gifts.
Grannis says traditional gifts top the list and that over $4-billion will be spent on jewelry, $3.5-billion on an evening out, $1.8-billion on flowers, $1.5-billion on candy and over $1-billion on gift cards.
Another survey shows some of these traditional gifts will cost more this year. Houston Asset Management tracks the cost of 10 popular gifts each year and they report a romantic dinner for two increased nine-percent this year. Nebraskans heading to movies can expect to pay about 2-percent more for tickets than one year ago. They report chocolates, flowers and a bottle of wine cost the same as last year.
Grannis says it is not only sweethearts that will be receiving gifts. The survey shows gifts are also bought for parents, children and their children’s teachers and classmates. More and more people are also buying Valentine’s Day gifts for their pets.
The survey shows 37-percent of all gifts will be bought at discount stores. Over 33-percent of Valentine’s Day gifts will be purchased at department stores. Nearly one out of every five gifts will be bought on-line.