A new report from IBISWorld finds that consumers
expect to spend slightly more this Valentine’s Day than they
did in 2012. Total revenues for the holiday are expected to
grow 3.2% to $20.8 billion. Spending is predicted to be
$134.08 per person, compared with last year’s $133.99.
“Although overall spending will increase slightly,
consumers are still watching their wallets, and spending
on expensive items will suffer as a consequence,” IBISWorld
industry analyst Lauren Setar said. “Due to these trends,
Valentine’s Day purchases are expected to trend toward
conventional gifts, giving candy and flowers an edge this
year.”