Staff opinion: Love doesn't stink for merchants

Whether it’s candy, flowers, a special dinner or movie date, or even just a card, most people make at least one Valentine’s Day-related purchase each year.

Add it all up, and you have one very special day for retailers who cater to the holiday.

What makes this even sweeter to those in the love business and the struggling economy is that according to a survey by the National Retail Federation, each American will spend an average of $123 on their Valentine this holiday — up 8.5 percent from last year. Combined spending will reportedly reach $17.5 billion. That’s a lot of chocolate!

Happily for the economy, this isn’t the first upward holiday spending trend the country has seen recently. A December NRF report said holiday season spending was expected to rise 3.8 percent from the previous year to $469 billion. Black Friday sales also increased 4.5 percent from 2010. When people have more disposable income, it’s a good sign that they’re not struggling as much, which is good news for romantics everywhere.

And it’s not just couples who are shelling out the big bucks to celebrate this Valentine’s Day. While they do represent the bulk with significant others planning to spend an average of $74.12 on their other half — up from $68.98 last year — the average American will spend $25.25 on their children, parents and other relatives, $6.92 on friends and $4.52 on pets this year.

Another good sign for the economy is that more people are saying they’ll visit higher-end stores to get their love loot. Discount stores are still expected to get the brunt of the Valentine’s Day traffic, at 37 percent, but 33 percent said they’ll visit department stores, which is up from 30 percent last year.

The usual suspects will likely reap much of the benefit of these purchases — Godiva chocolate, 1-800-Flowers.com and Victoria’s Secret. But it doesn’t have to be that way. Those planning to go all out for their sweethearts should consider plunking some of that dough into the local economy — a great way to show affection for a loved one and the hometown. So many small businesses are offering unique gifts and experiences that can satisfy any Valentine.

It’s important to remember that money can’t buy happiness and that love doesn’t cost a thing, but after so many years of economic doom and gloom, a sign of light is lovely.