COLUMBIA — It’s Valentine’s Day and as shops sell last-minute gifts to customers, many retailers are already pleased with sales figures this year. Retailers in Columbia and across the U.S. have seen a boost in sales that improved dramatically from last year’s holiday spending.
A recent article in the Missourian described an increase in sales at local businesses as the holiday approached. People are expected to spend more on gifts than they did last year, according to the report.
Individual consumers will spend an estimated $116.21 on gifts this year, a 12.8 percent increase from $103 last year, according to a National Retail Federation survey of 8,913 consumers.
The Los Angeles Times reported jewelry sales were up this year, but people are still looking for deals when shopping. According to the article, an estimated $3.5 billion will be spent on jewelry for the holiday.
But Valentine’s Day gifts aren’t just for couples. USA Today reported people are spending more on family members, children, friends and co-workers than on significant others.
Did you spend more on Valentine's Day gifts this year? What did you buy for that special someone?