New Yorkers Will Spend More than Half a Billion Dollars on Sucky Valentine's Day

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New Yorkers will spend around $566 million on Valentine's Day -- mainly on predictable, boring gifts such as cards and candy, according to the New York City Economic Development Corporation.

Using data from the National Retail Federation, the NYCEDC says that 60 percent of adults in the Northeast have decided to celebrate love with abject materialism, and plan on spending $146.30 apiece buying crap for their loved ones (who might be cheating on them).

They will spend around $22.71 on confections and $38.65 on bouquets this year -- supporting an industry that's said to employ 3,000 New Yorkers.

People have decided to shell out more on their significant others than in the past -- $74.12 compared to $68.98 in 2011.

People also plan on spending around $25.25 on their kids and $6.92 on their pets.

And ladies appear to have it easy -- dudes tend to waste $168.74 on V-Day presents, whereas women only piss away an average of $85.76.

The most shocking stats? Americans will pay $4.1 billion for Valentine's jewelry -- up from $3.5 billion in 2011 (which is the same amount people will spend on a night out.)

So there you have it: Money can't buy happiness, but it sure as shit can buy love (or something close).

Follow Victoria Bekiempis @vicbekiempis.


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