The National Retail Federation estimates that consumers in the U.S. will spend $18.2 billion this Valentine's Day. Large though the figure may appear, it's actually down from last year's record high of $19.7 billion. It works out to an average of $136.57 per person. The bulk of it, $85.21, is earmarked for one's romantic partner, and the rest is divided among parents and children, teachers or classmates, friends, pets, and coworkers.
Though gifts of jewelry, flowers, chocolates, and dinners out, still make up the bulk of anticipated spending, there are also other options considered, particularly in light of the expanded categories for recipients of gifts on this holiday. And that means expanded opportunities for marketing around the holiday. The medium of choice for many marketers is video, because of its reach, its engagement, and the metrics on both.
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read more in Why Marketers Heart Video for Valentine's Day
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