Valentineās Day isnāt just for your partner anymore. The consumer-friendly holiday has always been a good time of year for people looking for ways to display their love. Whether youāre buying for a friend, a child or even yourself one thing is certain, February 14th is good for the economy.Ā
Sorry men, youāre still on the hook
WalletHub estimates Americans spend on average $25.8 billion on Valentineās Dayārelated goods and services āand 2024 is expected to be no different. A survey from the personal finance website found that 45% of consumers were likely to spend at least $50 on a gift this year. Unsurprisingly, men are expected to spend twice as much as women, with an expected $6.4 billion going to jewelry alone.
Diet? What diet?
For those not looking to break the bank thereās always chocolate. According to BankRate, last year saw 57% of shoppers purchasing from the candy aisle on Valentineās Day. Bankrate also found that sweets were the most popular gift in 2023, with experts predicting that trend to continue this year. Sadly, chocolate is seeing a rise in prices due to issues in global cocoa production, particularly in West Africa, where 60% of cocoa production takes place.
You can buy yourself flowers. You can also buy them for someone else.
The National Retail Federation predicts 37% of consumers will turn to roses, lilies, or carnations for loved ones.Ā
But Iām single: What am I supposed to do? (And why have I read this far?)
Donāt assume all businesses are counting you out. Dating services are well aware this is when most people are hoping to swipe right and make that connection. Online dating activity usually spikes around 33% between February 1 and February 14, according to WalletHub, with many looking for a romantic partner as the holiday approaches. And for the dating apps, that spells revenue! The projected global dating service market size is set to reach an astounding $23.8 billion by 2032.
Sign Up for the Need2Know Newsletter
Every weekday weāll send you the stories you need to start your day with confidence.
Itās a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum āwill not go unanswered,ā European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Jeff Benedict, author of 'The Dynasty,' weighs in on the Kansas City Chiefs being the next big dynasty, who he thinks will win Super Bowl LIX and more. Watch!
