city New York CEO Man Matthews city New York

Valentine's Day 2022: Spending expected to near $24B

Reading now: 142
www.fox29.com

nation's largest retail trade group estimated that consumers are going to collectively dole out nearly $24 billion on Valentine's Day this year, marking the second-highest year on record.This year's projection is an increase from the $21.8 billion consumers spent in 2021, according to an annual survey by National Retail Federation and Prosper Insights & Analytics.

However, this year's projection falls just short of the $24.7 billion spent in 2020.The NRF's data comes just after holiday spending in 2021 grew 14.1% over the prior year to a record $886.7 billion. "Following the historic level of consumer spending over the winter holidays, it appears that the trend will continue into 2022," NRF CEO Matthew Shay said in a statement.More than half of U.S.

consumers – 53% – are planning to celebrate Valentine's Day this year, according to the NRF. Of those celebrating, 76% indicated how important the holiday is "given the current state of the pandemic."   FILE - A man is carrying a balloon as Valentine's Day celebrated at the Times Square in New York City, United States on Feb.14, 2021.

Each individual shopper is projected to spend an average of $175.41 on gifts, an increase from $164.76 in 2021, despite inflation hitting a nearly 40-year high.

Read more on fox29.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Sergey Lavrov - Russia’s invasion of Ukraine means Canada faces belligerent Arctic neighbour - globalnews.ca - Canada - Russia - county Canadian - Ukraine
globalnews.ca
86%
855
Russia’s invasion of Ukraine means Canada faces belligerent Arctic neighbour
READ MORE: Russia threatens response to Canadian sanctionsIn this context, concerns that were previously voiced about the future of Arctic security following Russia’s annexation of Ukraine’s Crimea republic in 2014 have heightened enormously in the past 72 hours.In a chilling attempt to justify Russia’s invasion of its neighbour last week, Putin concocted an imaginary history of Ukraine as an illegitimate state on territory integral to Russia’s national identity. Putin is similarly known to view Russian control over the Arctic as a vital expression of the country’s mythic destiny.The idea that Russia might soon be pressured to halt or reverse its imminent conquest of Ukraine — in response, say, to harsh economic sanctions and unified condemnation among Western countries — seems naïve.That makes it equally hard to imagine a world in which Russia will continue to comply with the genteel terms of the UN Commission on the Limits of the Continental Shelf, the Law of the Sea convention, or with various security, environmental and cultural agreements struck with Canada and other members of the eight-nation Arctic Council — currently chaired by Russia.In flouting the international rules-based order with its unjustifiable invasion of Ukraine, Russia can no longer be counted upon as a constructive partner in any of its multilateral involvements with Canada in the Arctic or elsewhere.READ MORE: Ukrainian Canadians denounce Russian invasion; cities raise Ukrainian flagLong-time Russian foreign minister Sergey Lavrov is one of Putin’s key lieutenants in the war on Ukraine.
DMCA