Valentine’s Day Spending On The Rise

Now that the Super Bowl is over, it's time to countdown to -- Valentine's Day.

Times are tough these days and Americans are trying hard to save as much as possible. However, Valentine's Day is fast approaching and despite a poor economy, experts are predicting a rise in Valentine's Day spending.

The National Retail Federation conducted a survey and found that Americans will spend about 11 percent more this year than last year. They predict an average of $116 spent on gifts for loved ones, friends, co-workers, teachers and pets.

That's right, pets - 18 percent of those questioned said they planned to by a gift for their pets. (Yeah I read that line twice also - I think Max may get a bit longer of a walk.)

Overall, it's shoppers in the 25 to 34 age range who will spend the most this year.

Source: MediaPost.com