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Wednesday, 31st January 2007

Men Digging Deeper to Show Their Love this Valentine’s Day

Men Digging Deeper to Show Their Love this Valentine’s Day
Source: National Retail Federation

While love may not cost a thing, consumers will be opening their wallets to show their sweeties how much they care this Valentine’s Day. According to the National Retail Federation’s (NRF) 2007 Valentine's Day Consumer Intentions and Actions Survey, conducted by BIGresearch for NRF, the average consumer will spend $119.67 on Valentine's Day, up from $100.89 last year. With 63.4 percent of consumers planning to celebrate the holiday, total 2007 Valentine's Day spending is expected to reach $16.90 billion.

Men have historically been the big spenders when it comes to Valentine’s Day and this year is no exception. According to the survey, the average male is expected to spend $156.22, nearly double the $85.08 that the average female will spend. Flowers remain a popular holiday gift, with 58.3 percent of men planning to buy their sweetie some type of flower (vs. 52.3% in 2006). Men will also be showering their loved ones with cards (56.7%), candy (42.9%), an evening out (53.1%), and jewelry (27.6%).

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