Cupid is an Economic Stimulus

Cupid is an Economic Stimulus<br /><br />Gone are the days that Valentines Day is labeled as a Hallmark Holiday. Valentines can be considered an economic stimulus that helps to boost sales in between Christmas and Easter. According to Reuters News Agency, for Valentines Day 2011, the average American couple will spend $189, which is three times more than what singles generally spend on an average date $67. Cupid has consumerism working for the economy, but not everyone buys into spending to show their love.<br /><br />Valentines Day SpendingAccording to estimates from the National Retail Foundation, the average person will spend $116.21 on Valentines Day merchandise this year, this figure is up almost 13% percent over last years $103.00. Overall, this will bring total Valentines Day spending to about $15.7 billion.<br /><br />Greeting cards will be the most popular gift option at over 50 percent, and jewelry is expected to be a popular gift to give with almost 20 percent of Valentines shoppers.<br /><br />The survey also found that overall spending is expected to be up this year. Consumers will fork over $3.5 billion on jewelry this Valentines Day, up from 2010s estimated $3 billion. Clothing $1.6 billion vs. $1.5 billion in 2010 and dining out $3.4 billion vs. $3.3 billion in 2010 are anticipated to be popular choices.<br /><br />No changes are expected on who will spend more; men will spend the most on Valentines Day gifts. The average man is anticipated to spend $158.71, more than double what the average woman will spend.<br /><br />According to Reuters, young professionals plan to spend $255 for Valentines with their significant other.<br /><br />Reuters quoted Mona Hamouly, public affairs manager with American Express, In January we asked the entire population if they felt optimistic or frugal or frightened as they were going into this new year, and what weve seen is young professionals definitely feel a bit more optimistic about the economy. Perhaps thats what drives them to be willing to spend a little bit more.<br /><br />Valentines Day Around the WorldProfits will soar in many economies worldwide. According to results at 6:30 pm on February 13, 2011, 49% of those who voted said that they have no special plans as it is just another day. Twenty six percent said they will have a quiet night at home with their special someone, 14% will dine out and take in a movie and only 11% who responded said they are exchanging Valentines Day gifts.