Editor’s note: This project is part of our ongoing FYI series, which examines topics and issues by using data analysis.
As the designated day of love draws near, Valentine’s Day spending is projected to reach $19.7 billion, according to the National Retail Federation’s Valentine’s Day Consumer Spending Survey, conducted by Prosper Insights and Analytics.This signifies an $800 million increase in spending from last year’s predicted numbers.
While items like candy, flowers and jewelry remain popular amongst gift givers, consumers are valuing an evening out on the town with a significant other far more — where total spending is said to reach $4.5 billion, according to the same survey. So, as the saying goes: Roses are red. Violets are blue. Valentine’s Day is approaching, so here are some more fun facts for you.