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Valentine's Day spending expected to hit a record high

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Posted at 4:22 PM, Feb 12, 2024

Whether your Valentine's Day consists of a quiet night at home or a fancy dinner out on the town, spending on the holiday is expected to reach a record high this year.

“I’m probably going to have a self-care day — go to the gym and have some sauna time,” said Alan Duque, Paso Robles resident.

Others, like Forrest Wise, enjoy spending the day with a loved one.

“If it's someone I truly care about, I'd like to take them somewhere nice and have it be an entire experience. I think it's worth it,” Wise said.

Wise usually travels away from the Central Coast for the holiday.

“Last Valentine’s Day, I probably spent close to $1,500. That's out of the norm but if someone is special enough, it's worth it,” he said.

This Valentine's Day, spending is expected to reach $14.2 billion, according to the National Retail Federation, which predicts the average consumer will spend $185.81.

Some will spend more.

“Pretty close to $900 to $1,000,” one Lompoc resident said.

Over at the Open Air Flowers shop in San Luis Obispo, owner Lisa-Marie Dietz says 90% of the people who come in for Valentine's Day shop at the last minute.

“It's either the day before or the day of,” Dietz said.

Her shop carries a wide variety of Valentine's Day items.

“Fresh cut flowers, bouquet arrangements and vases, some plants, greeting cards, and some gift ideas,” Dietz continued.

According to the National Retail Federation, online is the most popular destination to shop for Valentine’s Day gifts, with 40% of people saying they'll shop online this year.