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Valentine’s Day consumers likely to spend $25.9 billion

Jewelry and a dinner out are expected to lead sales for Valentine’s Day. Americans plan to spend more than $5.5 billion on jewelry and nearly $4.4 billion on a special evening out, according to the annual survey by the National Retail Federation and Prosper Insights & Analytics.

Overall, consumers are expected to spend $25.9 billion on Valentine’s Day this year, up from $23.9 billion in 2022 and one of the highest spending years on record.

More than half of consumers plan to celebrate and will spend an average of $192.80. This is up from $175.41 in 2022, and the second-highest figure since NRF and Prosper started tracking Valentine’s Day spending in 2004.

Local jewelry stores are hoping for a strong holiday.

“Valentine’s Day is a strong holiday for both engagements and all gifts representing love. We have ramped up with increased inventories, especially items under $200 which is a good price point for valentines shoppers. We expect sales to be strong as they have been the last few years,” said President Michael Kranich Jr. of Kranich’s Jewelers, Altoona.”Diamond stud earrings are our most popular item coming into Valentine’s this year.”

Mike Dorman, owner of Dorman’s Jewelry, Altoona, said he expects sales to be good, but not like years past.

“To be honest, since the shutdown (2020), this is an entirely different business. That being said, engagement rings are always big at Valentine’s and with lab grown diamonds on the market, things are busier in that category than ever. Heart jewelry is still a thing, diamond earrings are always a staple piece. But overall, I think it will be a great season,” Dorman said.

Finelli’s Italian Villa and the Allegro Restaurant, both of Altoona, are always busy for Valentine’s Day.

“We were almost filled up by the end of January. We will have a special menu. My wife is making special desserts, and my daughter is making special Valentine’s Day drinks. … We will be sold out,” owner Frank Finelli said. “It doesn’t matter what day it is, we can have 3 feet of snow and people will come in.”

Allegro owner Dan Taddei agrees. “Valentine’s Day is huge for us. It is not on a Saturday so we kind of get two bumps from it. We will be sold out Saturday and Tuesday. If it were on a Saturday, we would be turning people away,” Taddei said. “We will have our most popular items on the menu, a little bit of everything.”

Over half of valentine shoppers will buy candy for their sweetheart.

Tyrone-based Gardners Candies expects a slight increase of our heart-shaped boxes over last year. “Aside from our Original Peanut Butter Meltaways, a popular item is our chocolate-dipped strawberries. This item must be preordered, and we are seeing a nice increase in sales over last year,” said President Joe DeStadio.

Jerry Moore, owner of Dutch Hill Chocolates, Altoona, said, “We expect our sales to be similar to last year and previous years. We have been doing chocolate covered strawberries for many years.”

The price of ingredients, especially chocolate, has increased significantly. “We are doing our best to keep our prices as low as possible,” he said

Flowers, especially red roses, are another big seller for Valentine’s Day.

“Red roses are the favorite, classic and romantic. Sunflowers, orchids and eucalyptus are really popular as well. Valentine’s Day is looking really good. We had lots of preorders,” said owner Andrea Hammel of Peterman’s Flower Shop, Juniata.

Gary Warner, owner of Warner’s Florist Gifts Greenhouses, Hollidaysburg, said, “Our No. 1 seller is red rose arrangements. We are preparing for the best. Prices are up, but the weather looks good. We are not expecting any snow or ice, they are the deadliest conditions for us,” said Warner. “We will be working on Sunday but not open. We will be preparing for the 13th and 14th. The 13th is busy, but the 14th is when it hits the fan.”

Mirror Staff Writer Walt Frank is at 814-946-7467.

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