Valentine’s Day arrived each year with a heavy price when I was an elementary school student. The holiday didn’t hit me financially — my parents swallowed the cost of the “Star Wars” cards that I gave to classmates — but emotionally.
An uneasy sense of anticipation tarnished my annual march to distribute valentines from one crush’s desk to another. Would a kind girl write off her hardearned place in third-grade politics and scribble a love note to me, the shy, chubby kid? As it turns out, that never happened.
But as most grownups learn, Feb. 14 can tear apart your heart and your bank account. This year, several clashing studies peg the average person to spend anywhere from about $50 to $250 on their significant other. That could inject as much as $17.3 billion into the U.S. economy, according to the National Retail Federation, publisher of one of the more conservative surveys.
“Valentine’s Day will continue to be a popular gift-giving event, even when consumers are frugal with their budgets,” Matthew Shay, president and CEO of the retail federation, said in a press release.
Men are in line to drop twice the amount of cash on their lovers, according to multiple surveys. Guys can expect to spend around $100 to $250, while ladies pay $50 to $125.
More than half of those questioned in the study plan to send greeting cards to mark the holiday. Considering most of the cards that anybody would actually like cost about $5, it’s no wonder so many cynics see the occasion as a big payday for Hallmark.
To cut that not-so-sharp corner, people can send free e-cards or romantic text messages, or pen original notes.
In middle school, I scraped $1 from my lunch money to send a bag of candy sweethearts to a girl, who I swear was just a friend. Hoping she would do the same, I eagerly awaited the delivery of those candygrams during homeroom.
I nearly raised my fist in the air when a bag of sugarcoated hearts plopped on my desk. I quickly thumbed through the attached note and saw that my mother paid for the gift during a school function.
Even so, candy appears to be as popular as ever this Valentine’s Day.
“Americans have a longstanding tradition of sharing candy with family, friends and colleagues during the holidays,” said Susan Whiteside, a vice president with the National Confectioners Association, which also conducted a survey on the topic. “Valentine’s Day is no exception, with 83 percent of respondents citing the February holiday as a top candy-sharing occasion.”
The nation’s sweet tooth stands to rake in more than $1 billion for the candy man this Valentine’s Day, according to the trade group.
The confectioners go so far as to claim that 59 percent of women prefer chocolate to flowers this year. I think the safest bet is to buy both.
That might have helped me in high school, when I snagged a single rose for my on-againoff again girlfriend. We broke up a few weeks earlier, but the gesture swayed her to promise to ride the school bus home with me.
After the day ended, I stood by our shared locker — high-school breakups are messy and neither of us wanted to abandon the prime real estate — but she never showed. She decided to share the day with a guy who had a car and a bouquet. I walked home with a savage lesson in heartbreak and stinginess.
The Society of American Florists estimates that the industry produced 233 million roses for Valentine’s Day 2013, and this year looks to be a boon, as well. A quarter of adults bought flowers for their loved ones last year.
On average, a dozen long-stem arranged roses sells for $83, said Jennifer Sparks, spokeswoman for the society. But customers can nab better deals, depending on the florist, the display and the type of rose, she said.
“Some florists will offer incentives if you order early or get them delivered early,” Sparks said, adding that business owners may throw in a box of chocolates.
As evidenced by the onslaught of press releases and marketing campaigns, Valentine’s Day is as popular as ever among the industries and companies that profit off the holiday.
But don’t feel compelled to throw yourself in front of Cupid’s arrow. The national retail federation expects only 54 percent of Americans to celebrate the occasion this year, down from 60 percent last year.
Jack Murtha is a Greater Media Newspapers staff writer. He may be reached via email at [email protected].