FOR IMMEDIATE RELEASE February 8, 2024
Contact: Bryan Wachter (775) 771-8969 | Bryan@RANNV.org
Valentine’s Day Spending to Reach $250 Million Statewide Overall Participation Up Slightly from 2023 Love is in the air as Valentine’s Day is quickly approaching. Retailers throughout the Silver State are stocking up on flowers, precious jewels and tasty treats that can show just how much our loved ones mean to us. According to estimates by the Retail Association of Nevada (RAN), 53 percent of adults in Nevada were expected to spend over $250 million to celebrate the holiday. The latest estimates were based on a recent survey by the National Retail Federation (NRF), which found that adults across the United States plan to spend $25.8 billion this Valentine’s Day. Average spending per person was expected to dip to $185.81, a 3.6 percent decline from 2023. Candy was once again the most popular Valentine’s Day gift, with 57 percent of respondents indicating they would be purchasing chocolate treats. Greeting cards came in as the second-most-popular gift with 40 percent of consumers planning to purchase. Additionally, 39 percent of respondents indicated they would purchase flowers, while 32 percent of respondents said they would enjoy an evening out. In terms of spending on specific groups, spending for a significant other was the most expensive group with $101.84 being spent per person. Celebrants also will spend $29.08 for other relatives and $14.77 for friends. Other groups receiving gifts include children’s classmates and teachers, who were projected to have $12.02 spent on them, pets ($11.09) and co-workers ($9.13). According to the NRF, online stores were once again the most popular shopping destination, with 40 percent of respondents indicating that they would do so. Department www.RANNV.org
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stores also continued to hold their place as the second-most-popular option with 33 percent of respondents indicating that they would be shopping there. Other popular shopping destinations included discount stores with 31 percent of shoppers, florists (17 percent), specialty stores (16 percent), small or local businesses (16 percent), jewelry stores (13 percent), specialty clothing stores (10 percent) and catalogs (2 percent).
www.RANNV.org
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