Why Consumers Just Don’t Feel the Love for Valentine’s Day

TIME:

Valentine’s Day is a pale, pink shadow of its former self. Once associated with throbbing red passion and romance, today it’s more likely to elicit a sense of obligation, dread or apathy.

The annual Valentine’s Day spending survey from the National Retail Federation (NRF) reveals that 60% of Americans — and 91% of those in relationships — plan to celebrate the holiday to the tune of $18.6 billion. The folks playing along will spend an average of $131 on gifts for spouses, significant others, friends, children, parents, classmates, teachers, pets and co-workers. Average spending is expected to be up around $4 compared with Valentine’s Day last year.

Read the whole story: TIME

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