Americans Will Spend $29 Billion On Valentine's Day Purchases

By Markets MarketWatch Pulse

The average American who opts to spend on Valentine's Day purchases will part with $191.80 on gifts, activities and other items, according to the International Council of Shopping Centers. Spending will reach $29 billion. Of those celebrating Valentine's Day, technology will be the largest expenditure with an average spend of $215.50. Jewelry is second with $191.00. Nearly a quarter, 22%, say they'll spend more than last year while 54% said they'll spend about the same. Millennials will spend $218.60, more than Gen X ($186.40) and Baby Boomers ($70.50). The ICSC polled 1.022 adults for this survey.

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