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At a time when all things financial have many of us feeling cold, economics tells us it’s okay to love Valentine’s Day for its own sake. This article was originally published in the Daily Caller This Valentine’s Day, we’ll hear a lot about the economy-boosting powers of the holiday from the usual cast of pundits and media commentators. With Valentine’s Day approaching, it's intriguing to explore the economics of love—how much we spend, why we do it, and whether it’s worth the investment. Romance, like any market, operates on supply, demand and consumer behaviour with prices fluctuating based on cultural expectations and economic conditions. Valentine’s Day traces its origins to ancient Rome, where the festival As kids begin to write and seal their cards, couples make dining reservations, and “galentines” plan nights with friends, businesses in communities large and small are in full swing to provide the perfect gift or experience to make Valentine’s Day 2025 special. Valentine's Day Drives Economic Activity. The National Retail Federation (NRF According to the National Retail Federation (NRF), Valentine’s Day spending in the United States reached a record high of $27.4 billion in 2020, with consumers shelling out an average of $196.31 on gifts, dining, and other Valentine’s-related expenses. Valentine's Day Recovery Nearly Complete Data from the National Retail Federation show that spending took a nosedive during and after the Great Recession, falling from around $133 dollars per So even if deep down you think that Valentine’s Day has become over commercialised and meaningless, research suggests it makes good economic sense to send that card. Selma Wather, Senior Lecturer in Economics, University of Sussex. This article is republished from The Conversation under a Creative Commons license. Read the original article. Here’s what we can learn from economics Published: February 13, 2024 10:07am EST. Selma So even if deep down you think that Valentine’s Day has become over commercialised and meaningless When the whole market value of nonessential items like flowers and chocolate are sold higher than what consumers are willing to spend, they look at substitutes. In 2021, there was a decrease in the amount spent on Valentine’s Day (from $27.4 to $21.8 billion) attributed to the economic uncertainty felt by households. Valentine's Day Is an Economic Engine The holiday is an economic engine for businesses of all types in communities across the country. The National Retail Federation (NRF) estimates that 53% of consumers plan to celebrate Valentine’s Day, and $25.8 billion will be spent on the holiday this year, or about $185.81 per household. On Valentine’s Day, people celebrate their relationships with friends, family, or a significant other. Often, the expression of affection involves monetary expenditures. Jadrian Wooten, a Virginia Tech professor in the Department of Economics, provides valuable insight on effectively managing a budget around the holiday. Notable options include the Hot Pink Heart Tumbler with Charm ($27.95) and the Valentine’s Day Cold Cup ($22.95). FAQs What is Chocolate Day ? Chocolate Day, observed on February 9 as part of Valentine's Week, is a celebration of love and indulgence, where people exchange chocolates as a sweet gesture of affection. Data from the National Retail Federation show that spending took a nosedive during and after the Great Recession, falling from around $133 dollars per person in 2007 to $108 in 2010 (in 2012 dollars). If one of the Valentine's Day drinks at Starbucks isn't enough, the coffee chain is now offering free refills to all in-house customers. The Economics Of Valentine's Day: The Money Behind The Love February 14, 2014 — 09:41 am EST. Written by Benzinga -> Bruce Kennedy, Benzinga Staff Writer. Heart-sick romantic or hardened cynic Love is a universal language, and these Valentine's Day cupcakes speak it fluently. Imagine sinking your teeth into a rich, decadent chocolate cupcake, its moist crumb infused with the deep notes of cocoa and a hint of warm coffee. Then, picture a swirl of dreamy blush-pink strawberry buttercream frosting, bursting with the fresh, vibrant flavor of real strawberries. The evolution of Valentine’s Day itself also offers some interesting lessons about economics. First, it’s quite remarkable that so many people will be celebrating Valentine’s Day at all (or at least writing articles about the economics behind it). A few hundred years ago Valentine’s Day was the preserve of the very wealthy. The Valentine's Day menu is available now at participating Cold Stone locations for a limited time through February 18, 2025. Photo via Cold Stone Creamery. 5 This year, consumers planned to spend big on their loved ones in honor of Valentine’s Day. According to the National Retail Federation, the average American consumer was estimated to spend $142.31 on loved ones around the holiday this year. Retailers were expected to get especially lucky this Valentine’s Day, bringing in about $18.9 billion. Starbucks launched its line of Valentine's Day drinkware Jan. 3. It's available while supplies last. Prices and sizes include: Valentine's Day Cold Cup (24 oz.): [Verse 1] / You pop percs all year, where my gift at? (Huh?) / And why the fuck I got a Easter basket? (Bro) / Why you hire Johnny Red the crackhead to come sing to me? (Come on
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