Study finds people will spend about $150 each on Valentine’s Day gifts

A new survey finds Americans will spend a record $19.7 billion on Valentine’s Day gifts for loved ones this year. The National Retail Federation finds shoppers will spend on average $146.84 each on Valentine’s Day gifts this year, up $4 from last year.

The numbers are as followed: 50 percent plan on buying candy. 38 percent will arrange a special evening out. 37 percent will order or pick-up flowers and 19 percent will purchase jewelry.

This year’s survey finds that while more women say they’ll be buying gifts than men, on average men will spend more than double. The survey compares $133 versus $62 for ladies, with adults 25 to 34 outspending other age groups, forking out on average about $136.

Around one in five men will also include our four-legged friends in our Valentine’s Day gift giving, spending on average $27 on pet gifts. That comes out to a whopping $681 million dollars in spending nationwide.