Valentine’s Day spending could approach $230M in Nevada

Nevadans are expected to spend nearly $230 million worth of candy, flowers, jewelry and other tokens of affection for Valentine’s Day, according to a new report from the Retail Association of Nevada.

The trade association said about half of the Silver State’s adults are expected to celebrate Monday’s holiday. And the rise in spending is closer to pre-pandemic levels — when Nevadans were anticipated to spend $260 million in February 2020, just a month before the COVID-19 pandemic led to temporary business shutdowns and massive layoffs.

Bryan Wachter, RAN’s senior vice president, said he felt bullish about the results, and noted almost a third of those celebrating the holiday nationwide are spending the evening out, up from 24 percent last year. He estimated if Feb. 14 had fallen on a weekend instead of Monday, more people may have planned an evening out.

“I think that speaks just to the general feeling that people have that they’re confident to return,” Wachter said. “We’re getting back to those normal consumer behaviors where COVID isn’t an overriding factor on how folks are choosing to spend their money or their time.”

RAN’s estimates are based on a survey by the National Retail Federation and Prosper Insights & Analytics, which surveyed 7,728 U.S. adults.

The annual survey found adults across the country plan to spend $23.9 billion for the holiday, up from $21.8 billion last year, but not as high as the $27.4 billion predicted in 2020.

Shoppers are expected to spend an average of $175.41, a 6.5 percent increase compared to 2021.

“Following the historic level of consumer spending over the winter holidays, it appears that the trend will continue into 2022,” NRF President and CEO Matthew Shay said in a news release. “Valentine’s Day is a special occasion for many Americans, even more so as we navigate out of the pandemic, and retailers are prepared to help them mark the holiday in a memorable and meaningful way.”

NRF found 56 percent of respondents planned to purchase candy, making it the most popular gift item, while 40 percent planned to purchase greeting cards and 37 percent buying flowers. While only 22 percent of shoppers were opting to buy jewelry, NRF found total spending on jewelry was estimated to be $6.2 billion, up from $4.1 billion in 2021 and the highest in the survey’s 15-year history.

Scott Wurth, owner of the Sugar Shop and The Olive Branch at Downtown Container Park, said his businesses are seeing more customers than last year but the full scope won’t be noticeable until the weekend.

Wurth said he tracks hotel occupancy rates to estimate how much foot traffic from tourists he’ll see over the weekend. This winter, which is normally slow with less tourists and a post-holiday season slump, has been better than last year’s, he said.

“I am seeing a little bump in international travel, which is going to help,” Wurth said. “As far as Valentine’s Day, it’s the day after the Super Bowl so we’re already busy for that and it’ll lead right into it. (For tourists), I think people are going to end up staying Monday night as well, not go home right away.”

Other retailers say even though business is busy they’re struggling to keep up because of fewer staff.

DiBella Flowers and Gifts owner John DiBella said customers are still eager to buy a dozen red roses for $130, or half-price when purchasing loose-cut flowers. But the team needs more floral designers, salespeople and designers to keep up with the seasonal five-day rush.

“It looks like we’re having a good holiday,” DiBella said. “We’re short-handed, but we’re finding we have a lot of friends and old employees coming to help us.”

McKenna Ross is a corps member with Report for America, a national service program that places journalists into local newsrooms. Contact her at mross@reviewjournal.com. Follow @mckenna_ross_ on Twitter.