$12.8 bln will be spent on Valentine Day gifts

The National Retail Federation (NRF) and BIGresearch report $12.79 billion will be spent on gifts for the 2004 Valentine's Day holiday in the US, with the average consumer spending $99.

The National Retail Federation (NRF) and BIGresearch report $12.79 billion will be spent on gifts for the 2004 Valentine's Day holiday in the US, with the average consumer spending $99.24 - up from $80.44 in 2003. BIGresearch surveyed over 8,000 US consumers in January to determine most (73.3%) will buy greeting cards this Valentine's Day. Flowers are also very popular, but mainly among men, as 64.9% say they will buy flowers while just 16.2% of women will do the same.