New Yorkers to Spend Record Amount on Valentine’s Day This Year
Forget inflation, New York residents plan on coughing up an insane amount of money this Valentine's Day.
Love (and Money) Is in the Air
How much do you plan on spending on your significant other next week? With Valentine's Day being a week from Thursday, New Yorkers are starting to order their flowers, chocolates and more to make their special someone feel extra loved for the holiday.
A new study found this will be the year New Yorkers will spend even more money on Valentine's Day, and it's not necessarily because of inflation.
The National Retail Federation(NRF) says consumers nationwide are expected to spend $25.8 billion on Valentine's Day shopping. This marks the most money Americans will spend on Valentine's Day in history, even more than during the height of lockdown when people had a some extra stimulus money to burn.
However, some states are stingier than others. While some Americans would be satisfied with waking up to a 99-cent card with a thoughtful note inside, the average New Yorker has a bigger appetite.
What New Yorkers Will Buy on Valentine's Day
Aside from romantic cards, millions will be spent on fancy restaurants on Valentine's Day this year in New York. Nationally, $4.9 billion will be spent on fancy dinner reservations, according to federal estimates, with Americans from states with higher food prices bearing the brunt of the costs.
However, jewelry will be the biggest ticket item in 2024 with Americans expected to spend a collective $6.4 billion on the bling.
Clothing (think sexy lingerie) is the next item on the list that consumers will spend the most on, followed by flowers in fourth place. The numbers are, respectively, $3 billion and $2.6 billion.
Bookies.com compiled a list of the most romantic states and found that, New Yorkers plan on spending close to $100 on their romantic holiday. To be exact, New Yorkers plan on spending $88.77 this year.
As for the state that will see residents spending the most, that honor goes to Kansas. People there plan on dropping $159.79 on average on February 14.
How much money are you planning to spend next Wednesday? Which item do you expect to spend the most on?
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