Cash registers feeling the love as Valentine’s Day spending increases

8News Digital Exclusive

Report suggests V-Day sales are expected to increase by nearly 25%, with those celebrating spending an average of nearly $200 per person

RICHMOND, Va. (WRIC) — How much do you spend on Valentine’s Day? A new report forecasts record spending in 2020, with sales expected to jump by nearly 25 percent.

According to the National Retail Federation, Valentine’s Day sales are expected to increase by 21 percent from last year, with those celebrating spending an average of $196.31 per person.

Local businesses say they’ve noticed a continuous uptick in spending over the years and they’re ready for the anticipated rush this Valentine’s Day.

“This is all I’ve ever done,” said Shari Hoyle, owner of Flowers Make Scents in Midlothian. “Just when we think we have done the most we’ve ever done, we do a little more every year. Full staff here, probably 15 of us designing, answering phones, helping at the counter.”

The survey also shows who people, on average, are spending money on for Valentine’s Day this year:

  • 52% spouses/significant others
  • 15% other family members
  • 7% friends
  • 7% coworkers
  • 7% classmates of children
  • 6% pets
  • 5% other

“It isn’t just about a relationship with your significant other, it can be with anyone you love.”

Shari Hoyle

The restaurant industry also braces for Valentine’s Day as one of the busiest days of the year. Chris Ryan, manager at Wood & Iron in Midlothian, says each year the business has broken personal Valentine’s Day sales records each year the restaurant has been open.

“It’s a busy day, it’s a busy night,” Ryan said. “You gotta get excited, this year it’s on Friday. Valentine’s Day and Friday — put those together, it’s a hurricane waiting to happen. We are staffed up and ready to go.”

Hoyle says that at the end of the day Valentine’s Day is more than just spending money.

“Anyone who is close to you that you just wanna say, ya know what? I don’t tell you every day but today I’m gonna tell you, ‘I love you.’ That’s it. That’s Valentine’s Day,” Hoyle said.

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