Valentine: After Today, The US Market Will Be $18.2 Billion Richer



It used to be a Christian celebration but not anymore or not as much. Valentine’s day has been so commercialized that a lot of people look forward to it not for love but for the quick cash aspect of it.

Just for the celebration, some have become part time entrepreneurs to make money.

Did you know that after today, the US economy will be $18.2 billion richer?

The focal point of most societies today is money. So it is no fairy tale if a host of other things that come along with life revolve around it, love inclusive.

An article puts it this way, “The U.S. economy loves Valentine’s Day”. Why not?

People want to give gifts, cards, flowers, hang out in cool places, go for concerts, movies amongst other plans. These Valentine options are cool but also cost money.

See Also: February 14: 10 Quick Facts You Didn’t Know About St Valentine

Businesses during this time make promos and give bonuses to entice more customers.

rose_money

According to a survey from the National Retail Federation (NRF), U.S Consumers will spend an estimated total of $18.2 billion on this year’s Val celebration.

The breakdown suggests that about $4.3 billion from the total estimate will be spent on jewelries and another $2 billion on flowers, $3.8 billion on an evening out, $1.9 billion on clothing, $1.7 billion on candy, $1.4 billion on gift cards and gift certificates, and $1 billion on cards.

The NRF survey shows that the amount is modest compared to last year’s total. It says that Valentine’s day for 2016 in the United States generated about  $19.7 billion; meaning that an average consumer spent $146.84.



NRF estimates that the average consumer will spend about $136.57 this year.

Matthew Shay, NRF President and CEO is of the view that no matter how frugal the consumers get, the US market smiles every Valentine’s day.

“Valentine’s Day continues to be a popular gift-giving occasion even if consumers are being more frugal this year,”

“This is one day of the year when millions find a way to show their loved ones they care regardless of their budget,”

“Consumers will find that retailers recognize that their customers are looking for the best deals and will offer good bargains just as they did during the holiday season.”

See Also: Pakistan: No Valentine’s Celebration Is Allowed, Says Court

From a celebration of love rooted in the Christian faith, the British Aristocrats began to give the occasion a touch of flamboyance by the 18th century. They made Valentine’s day decors and gifts with materials such as lace, satin and ribbons; assorted romantic prose, poetry and imagery.

In the 1840s, a Massachusetts entrepreneur, Esther A. Howland stepped up the game by inventing Valentine’s Day cards. This would make it easy for people who may not have the luxury of romantic write ups and embellished pieces of self-made gifts to have something to present to their loved ones during the occasion.

From then the commercialized gift-initiative was birthed and appealed to a fast industrializing world. Records say that Esther generated a stunning $100,000 in one year (by 19th century standards)

Gradually the what used to be a religious affair made a great deal of room for “material goodies”.

The money making part of Valentine’s day is not just peculiar to the US markets. All around the world, especially in largely Christian or secular societies, the trend is visible.

Topics: