Study: Valentine’s spending to rise 4%

New York -- Shoppers will be opening both their hearts and their wallets this Valentine’s Day. According to a new study from IBISWorld, total holiday spending will increase 3.8% from 2014, to $139.70 from $134.56.



Revenue from candy is expected to rise 3%, and will maintain its position as the category with the most consistent growth over the past five years. This segment’s popularity is due to its easy availability and its varied pricing based on the manufacturer and quality of ingredients.



Other areas of significant anticipated growth for this Valentine’s Day are restaurant dining, which is expected to rise by 4.3%, and flower sales, which are projected to grow 3.3%. While flower sales will rise, flower delivery figures are expected to fall this year, given the holiday will not be on a business day, when delivery services are in higher demand. Conversely, dining establishments are expected to receive a boost from increased breakfast, lunch and brunch volumes, as consumers are more likely to dine out on the weekends.