Feb 12

Feb 12 Happy ($27-Billion-Dollar) Valentine’s Day

This Friday, floral arrangements will arrive on doorsteps, desktops, and mail rooms. Construction paper valentines will fill decorated shoeboxes at elementary schools, and heart-shaped chocolate boxes will await children upon their waking. Valentine’s Day is here – the annual celebration of love and much-anticipated payday for florists, chocolatiers, and stuffed animal manufacturers.

Hey, big spender.

The National Retail Federation expects the average American to fork over $196 this year on Valentine’s Day. The heart-thumping total? $27 billion.

So where’s the money going? 52% of that is candy, 43% to greeting cards, and 37% is devoted to flowers. But don’t forget dining out, jewelry, clothing, and the occasional gift card. Still sound like a big number? Don’t forget our four-legged friends.

A former Biz Kid runs one of the chocolate brands set to benefit from increases in Valentine’s Day spending: Compartes Chocolatier.

Showering the people we love with love – whether two feet or four.

If $27 billion sounds like a lot of money to show our love to a special someone, it is. Those surveyed said they planned to buy gifts for more than just their significant others. The breakdown is a longer list than you might expect (anyone know where to find dog-friendly heart-shaped confections?)

What’s not to love? Waste.

With all of that spending, it goes without saying that waste is a big concern. The floral industry alone is going through a reckoning over the environmental impact of shipping cut flowers across oceans, only to be thrown out as soon as they wilt days later. Believe it or not, there’s a startup for that: multiple companies are making a profit from retrieving and re-delivering used flower arrangements. Any guesses as to where the trend is taking off? You guessed it: NYC.

Parenting pro tip: keep it simple.

As parent comparison runs amok, resist the temptation to keep up with the Joneses. Keep it simple. A hand-written encouragement will make lasting impact far beyond any pricey candy or thoughtless gift card. And remember: thoughtfulness trumps price tags in the long run. Does your child have a favorite candy? Show your love by showing you remembered — not spent.