Consumers will spend an average $142.31 on Valentine’s Day gifts this year, including $15.32 in greeting cards, new research shows.
The projections from the National Retail Federation (NRF) highlight the link between Valentine’s Day and the mail. Although some people deliver cards in person, many others send them through the Postal Service.
Fifty-one percent of consumers plan to purchase Valentine’s Day cards, making cards the second most popular gift behind candy. More women will buy cards than men, but men will spend more, NRF reports.
Approximately 145 million Valentine’s Day cards are purchased annually, according to the Greeting Card Association. Valentine’s Day is second only to Christmas, when 1.6 billion cards are purchased.
Valentine’s Day spending will hit a record $18.9 billion overall in 2015, according to NRF.
“It’s great to see consumers coming out of their shell this year, looking to spend discretionary budgets on those they love once again,” said industry researcher Pam Goodfellow.