If you’re looking for love on Valentine’s Day, it’s probably going to cost you. Feb. 14th is the day that we celebrate love, and it is a good time for businesses to prey on consumers. According to research from www.valentinesday.org, an estimated $14 billion is spent every year in honor of celebrating Valentine’s Day. We spend $14 billion dollars on Valentine’s Day? According to statistics from www.About.com, retailers make barely double that in the month of December. It’s clear we put too much effort into this. It’s a nice gesture to buy your significant other some flowers and a box of chocolates, but every day should be a day that you express how much you care about each other. It shouldn’t be emphasized more on one specific day over another.

However, if you are interested in the hype of Valentine’s Day, then I’ve compiled a couple of interesting marketing facts you may not know about the holiday.

Flourishing markets

Valentine’s Day is considered the third most important day for flowers, falling behind holidays such as Christmas and Mother’s day. Worldwide, chocolate sales can total over one billion dollars every year for Valentine’s Day alone. I wonder if Richard Cadbury foresaw the profitability when he created the first box of Valentine’s Day chocolates in the 1860s.

The diamond industry launched an ad campaign in the 1980s to encourage the gift giving of jewelry specifically on Valentine’s Day. I would say they’ve been quite successful because, according to the U.S. Census, the industry profited $2.27 billion in February of last year.

The U.S. Greeting Card Association estimates that over 190 million greeting cards are exchanged on Valentine’s Day, making it the biggest card-giving holiday.

Candy by the numbers

The U.S. Census Bureau revealed that the value of shipments for firms that produced chocolate and cocoa products amounted to about $12.6 billion in 2009, with 1,117 manufacturing establishments producing chocolatey goods. Nonchocolate confectionary producers grossed $7.4 billion through 409 U.S. establishments. All these manufactures fed into over 3,300 different stores. Another interesting fact that the Census revealed is that Americans consumed 24.7 pounds of candy per capita in the year 2010.

Consumers as targets

Candy, jewelry and floral businesses aren’t the only ones targeting consumers. Online dating and social networking sites look to make a profit as well. Telemarketers and scammers also search for prey around Feb. 14, just like they would during any of the other holidays. The Federal Trade Commission urges people to use their heads as well as their hearts, especially when it comes to possible online dating scams. Look out for telemarketing firms posing as local florists as well, they can hurt your wallet and affect local businesses.

In conclusion

Valentine’s Day turns love into a business. It’s good that locally owned florists and confectionary stores have the opportunity to prosper, but try not to get too caught up in the process. Be aware of who your local businesses really are and shop competitively. Valentine’s Day is already a costly endeavor. It’s no fun to get scammed in the process.