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How Much Are Americans Spending On Valentine's Day This Year?

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How Much Are Americans Spending On Valentine's Day This Year?

A new study by Bankrate has shown that Americans are paying big bucks to celebrate their special someones this weekend. Bankrate created a Be My Valentine Index, which includes the going market prices for Valentine’s Day staples.

Although Americans don’t spend nearly as much on Valentine’s Day as they do during the Christmas holiday, there is a lot of pressure to demonstrate love for that special someone in dollars and cents this weekend.

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Bankrate’s 2016 Be My Valentine Index totals $512.02. The index includes a box of chocolates ($15.11), diamond earrings ($323.26), a dozen roses ($41.66), dinner for two ($80.46) and a bottle of champagne ($51.54).

U.S. retailers performed poorly during the Christmas holiday season, but companies in the Valentine’s Day business are hoping that Americans will spend generously in the name of love this year. These names include flower delivery company 1-800-Flowers.Com Inc (NASDAQ: FLWS), L Brands Inc (NYSE: LB) (owner of both Victoria’s Secret and Bath & Body Works), Church & Dwight Co., Inc. (NYSE: CHD) (owner of Trojan brand condoms), candy giant Hershey Co (NYSE: HSY) and luxury jeweler Tiffany & Co. (NYSE: TIF).

Tiffany and L Brands could certainly use a Valentine’s Day push, as each stock is down more than 15 percent so far this year.

Disclosure: The author holds no position in the stocks mentioned.

Image Credit: Public Domain

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