Fewer people are expected to celebrate Valentine’s Day this year than in 2013.
According to the annual survey conducted by the National Retail Federation, only 53.8 percent of consumers plan to celebrate this year, down 6.1 percentage points from last year, and the lowest in the survey’s history. Coupled with a modest 2.2 percent increase in average spending from $130.97 in 2013 to $133.91 in 2014, nationwide, total sales are expected to reach $17.3 billion this year, down 7 percent from the $18.6 billion in sales predicted last year.
Assuming the same trends hold true in Nevada, the Retail Association of Nevada is predicting statewide spending will reach $153.4 million this Valentine’s Day. The latest estimates represent a decline of 5.9 percent when compared to last year’s predicted sales of $163 million.