WWJ: Professor Jeff Stoltman on Valentine's Day spending
Valentine's Day is approaching and retailers are making sure they have plenty of items to choose from; it’s all a part of marketing. Wayne State University Marketing Professor Jeff Stoltman says the candy and flowers have some competition. “More and more money is being spent by more and more people going to a concert, going to a sporting event, having a nice evening out. That’s the trend line, and that’s the trend line affecting retail overall. We're seeing less spent on things and more spent on experiences. Candy and flowers are still quite popular gift items for Valentine's Day, but Stoltman says due to the price tag on jewelry the most money is spent on the jewels.
