FOR IMMEDIATE RELEASE February 9, 2022
Contact: Bryan Wachter Senior Vice President of Government and Public Affairs (775) 771-8969 | Bryan@RANNV.org
Valentine’s Day Spending to Approach $230 Million Statewide Per-person Spending and Participation Levels Rebound Love is in the air as Valentine’s Day is quickly approaching. Those celebrating the holiday are flocking to local retailers to stock up on candy, flowers and jewelry to show the loved ones how much they mean. According to estimates by the Retail Association of Nevada (RAN), about half of all adults in the Nevada are expected to celebrate the holiday this year, spending nearly $230 million. “Nevada retailers are anticipating this Valentine’s Day to be more in line with pre-pandemic levels as the most recent omicron spike is beginning to level,” said Bryan Wachter, Senior Vice President of RAN. “We are excited to see rising consumer confidence with nearly a third of celebrants planning an evening out this year, up from 24 percent last year. Additionally, every spending category is expecting a year-over-year increase outside of greeting cards, with jewelry sales leading the way with a 49 percent increase in per-person spending from 2021.” The latest estimates are based on a recent survey by the National Retail Federation (NRF), which found that adults across the United States plan to spend a total of $23.9 billion on those that mean the most in their lives this upcoming Valentine’s Day. Average spending per person is expected to rise to $175.41, a 6.5 percent improvement from 2021. Just like last year, candy was the most popular gift for Valentine’s Day, with 56 percent of respondents indicating they would be purchasing sugary sweets. Greeting cards came in as the second-most popular gift this year with 40 percent of consumers planning to purchase. Additionally, 37 percent of respondents indicated they would purchase flowers, while 31 percent of respondents said they would enjoy an evening out. In terms of the most money spent by gift, jewelry ranked as the most expensive spending category with average spending of $45.75 per celebrant. The next highest spending category was an evening out, with an average spend of $31.35, followed by clothing with average spending of $21.46 per person.
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