Valentine’s Day spending will go up this year, but not for love of people

Valentine’s Day spending will go up this year, but not for love of people

Valentine’s Day spending will go up this year, but not for love of people

Consumer spending on Valentine’s Day will grow 8% over last year, according to a new survey, in large part because Americans plan to shower their pets with goodies on February 14th. In fact, spending on pets is expected to jump 27% this year, to $751 million, according to the National Retail Federation. “Millennials are the largest generation of pet owners,” said Katherine Cullen, NRF’s director of retail and consumer insights. “And they are doting pet parents.”

A number of retailers have jumped on board, including PetSmart, which has an online Valentine’s Day shop, including heart-shaped plush toys. Amazon has a dozen pages of Valentine’s Day-themed pet merch. Overall Valentine’s Day spending is expected to increase to $19.6 billion — after it fell last year for the first time since the recession.

See more about the near record spending at BusinessWire.com.

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