Whether celebrating Valentine's Day or 'Galentine's Day' Americans are expected to spend $27.4 billion on Feb. 14
On February 14, love is in the air and so is the scent of money.
In recent years, Americans have spent as much as $19.7 billion on Valentine's Day and this year consumers are expected to spend even more.
The National Retail Federation says consumers will spend an estimated total of $27.4 billion on February 14 in 2020.
But as studies reveal that an increasing number of Millenials are choosing to sacrifice romantic relationships to focus on their careers and platonic friendships, why is there such a peak in spending on a day that celebrates relationships?
The answer may be a change in perspective on holidays like Valentine's Day. It's become a day that both single and non-single Millenials have embraced.
This generation's increasingly single 20 and 30 something's are using creativity to modify holidays to suit their lifestyles.
On Valentine's Day, for example, roses and chocolates are bought for friends and family members, and groups of gal pal's go out to make the best of the holiday they've jokingly (but somewhat seriously) renamed 'Galentine's Day.'
So, though recent years may have seen an increase in the number of single Americans, retailers aren't exactly suffering on Valentine's Day.
And this is a good thing for eager customers.
In Baton Rouge, floral retailers, restaurants, and other retail outlets have an abundance of Valentine's Day deals that enthusiastic customers will gladly make use of.
Thanks to an expanded perspective on 'love' and to the creativity of retailers, this February 14 is a day for happy couples and optimistic singles alike.
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