Valentine's Day Spending Is Projected to Reach $18.9 Billion This Year

With $703 million going to the dogs (and cats and other pets)

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This Valentine's Day you're probably planning to shower your loved ones with special trinkets to show your love: jewelry, candy, a special night out, maybe some milkbones. Wait a second. Yes, according to a new study from the National Retail Federation, American's will spend $18.9 billion this holiday with $703 million of that allocated to pampering their pets. 

The average person will spend $142.31 on various gifts this year, up from $133.91 last year, according to the NRF's Valentine's Day Consumer Spending Survey conducted by Prosper Insights and Analytics, which polled 6,375 consumers. 

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