The Economics of Valentine's Day
by Eden Shimunova, Senior, iPreparatory Academy
by Eden Shimunova, Senior, iPreparatory Academy
Have you ever wondered where Valentine's Day came from? According to History.com, the holiday's origin came from Roman festival of Luperica which was held in the middle of February. It celebrated the coming of spring, fertility rites, and the pairing off of women with men by lottery. During the 5th century, the pope decided to replace Lupercalia with St. Valentines Day which is celebrated as a day of romance.
Every year it is advertised as a day where couples show their affection with greetings and gifts. The National Retail Federation cites that over half of the adults in the United States plan on celebrating this year, and according to the graph below the total spending reached on this holiday on gifts for partners, friends, and pets is $21.8 billion. |
Despite the pandemic disrupting many of the Americans' ways of celebrating the holiday, according to the National Retail Federation, about 73% of consumers celebrating this year feel that it is important to especially given the current state. About 24% of the consumers plan to give their loved ones an evening out. Lastly, out of all 41% plan to have a celebration at home. Although a lot of people are celebrating, the spending on gifts has dropped for an average person spending $196.31 to $164.76. Overall, many people feel great that people are able to still continue doing something special for their loved ones during the pandemic. This past year has been rough, and doing something special, whether it is staying at home to celebrate or having an evening out, is in the end an opportunity to celebrate love and all of the important relationships in our lives. |
Works Cited
“Freed of London Pointe Shoe Collaboration” Ballet Black https://balletblack.co.uk/freed-pointe-shoe-collaboration/
Zisa, Natalie. “Eight Powerful Dance Works to Come Out of the Black Lives Matter Movement.” DanceSpirit, 16, June 2020. https://www.dancespirit.com/dance-works-black-lives-matter-2646184424.html?rebelltitem=1#rebelltitem1
Mashall, Alex. “Blackface at the Ballet Highlights a Global Divide on Race.” The New York Times, 3 Dec 2019. https://www.nytimes.com/2019/12/23/arts/dance/blackface-ballet-bolshoi-misty-copeland.html