Young Customers More Enriching for Retailers on Valentineā€™s Day

New York City, When it comes to Valentineā€™s Day, young customers are the most enriching for retailers.

Customers over the age of 50 spend an average of $45 on Valentineā€™s Day, whereas those between the ages of 18 and 34 spend about $145, according to Robert Passikoff, president of Brand Keys, Inc.

Regardless of age, however, Passikoff said, gift giving during Valentineā€™s Day has become more of a major retail holiday in the past few years.

ā€œThe event gets bigger every year,ā€ Passikoff said. ā€œThis year we're seeing consumers report higher after-Christmas redemption rates of gifts cards going for purchases for the closest major holiday, Valentine's Day. And this year the average price placed on love is $113.00."

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