Friday, February 11, 2011

Economics of Love

An estimated 198 million roses were produced for Valentine's Day in 2010; about 110 million roses, mostly red, will be sold and delivered within a three-day time period this year
BREAKING NEWS:  Valentine's Day is Monday, February 14th!   That is now only 3 days away!

Now that we have our public service announcement out of the way, let's take a look at some of the interesting economics behind all the hearts, flowers, and chocolates.


TOP 10 ECONOMIC FACTS ON VALENTINE'S DAY

10) Valentine's Day is a $16 billion dollar a year industry

9) The average amount spent per person on Valentine's Day is $116.21

8) Spending on Valentine's day is expected to be up 12.1% over last year

7) The average person spends $5.04 on their pets for Valentine's Day

6) 52.1% of people will buy a card for their valentine

5) 15% of women will send themselves flowers on Valentine's Day

4) Most gifts (36%) are purchased at discount stores

3) 32% of people will do their Valentine's shopping online

2) Men spend double what women spend on Valentine's Day

1) Almost 200 million roses are produced for Valentine's Day

Source: Business Insider

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