(Meredith/AP/CNN) — Valentine’s Day is a day to show appreciation for your loved ones, and the tradition goes back a long way. People have been exchanging gifts in mid-February since the 1700s, but gift giving can be hard!
Thanks to a study published by the National Retail Federation, we have some information to share with you about the dos and don’ts of Valentine’s Day gift giving.
If you have a significant other in your life, then you should probably buy them a gift. 90% of gift givers plan to get something for their significant other. But more than 50% also plan to get something for other members of the family, and 20% plan to get Valentine’s Day gifts for their friends. So, definitely buy your spouse something, and consider your family and friends as well.
Valentine’s Day gifts are big business. We’re expected to spend over $18 billion this year for the holiday — that’s billion with a ‘B’ — and that number is actually a little lower than last year.
Don’t worry, you don’t have to break the bank to be a thoughtful gift giver. According to the National Retail Federation, the average gift for a significant other or spouse is about $120. Gifts for friends and other family members tend to be a little cheaper, around $25. As for other gift recipients like teachers, classmates, and co-workers, the average dollar amount is between $4 and $7.
This is the tough one. Everyone is different and they like different things, but there are some classic gifts that seem to be popular choices every year.
Cards, candy, flowers, and jewelry are all classic Valentine’s Day gifts that are always appreciated, but one interesting note on the survey is that “gifts of experience” are expected to be popular this year.
That includes things like concerts, sports tickets, outdoor activities, or even vacations. 40% of consumers said they wanted to receive a gift of experience, but only 24% plan to give one. So if you want to stand out, consider spending your money on an experience.
That’s right, Valentine’s Day is about giving and receiving gifts. Take the survey below and tell us which 3 gifts you’d most like to receive on Valentine’s Day.
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