This Valentine's Day, Americans are expected to drop billions of dollars — all in the name of love.
A report by the National Retail Federation estimated that American consumers will spend $25.9 billion. That would mark a $2 billion jump from 2022.
On average, consumers are expected to dole out about $192.80 each, compared to 2022 when they spent $175.41 on the day. That figure is supposed to jump to $335.71 for people between the ages of 35 and 44, who are expected to spend a little more than any other age bracket.
“This year, as consumers embrace spending on friends and loved ones, retailers are ready to help customers celebrate Valentine’s Day with memorable gifts at affordable prices.” noted Matthew Shay, president and CEO of the National Retail Federation, in a statement.
So what do people plan to buy? The report predicts that 57 percent of V-Day funds will be spent on candy, 40 percent on flowers, 21 percent on jewelry, 20 percent on gift cards, and clothing will likely account for 19 percent of spending.
The report also indicated that more than half of people planning to spend will take advantage of sales and promotions as they make purchases.
Margot Robbie is shedding some light on the Barbie-Oppenheimer rivalry in a new interview with Variety.
Joe Dee, co-owner of Dee's Nursery, shares some decoration ideas for a happy Hanukkah.
Famed chef Lidia Bastianich shows us how to make simple, yet, delicious Shrimp with Garlic & Olive Oil Over Fusilli.
Cheddar News takes a new look at the Bob Marley biopic, 'Bob Marley: One Love."
Wikipedia has released its list of most viewed articles for 2023 with the site seeing over 84 billion visits. The most searched topic was ChatGPT with nearly 50 billion page views
Kim Kardashian is reportedly set to star in a new legal drama on Hulu.
The iconic holiday song 'Rockin' Around the Christmas Tree' has hit No. 1.
'Dick Clark's New Year's Rock and Eve' with Ryan Seacrest is bringing some new faces to this year's live broadcast.
The Museum of the Dog, which opened in 2019, features some of the world's largest collections of canine fine art. Alan Fausel, curator of the AKC Museum of the Dog, joined Cheddar News to discuss the museum's operations and history while also explaining the latest exhibit, "Fashionable Dogs."
Police officers in New Jersey were sent on a wild chase recently after a deer crashed through a window of an elementary school in Toms River.
