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While you are busy whispering sweet nothings to your partner on Valentine’s Day, a handful of companies will be enjoying the cash roll in.
This year, the average American is anticipated to invest $134 on the holiday, up a little from last year’s $131 per person, according to the National Retail Federation. In overall, that’s an estimated $17.3 billion in annual spending on the day.
Many companies, like 1-800 Flowers and Tiffany and Co., will have among their most significant days of the year today. Here’s a take a look at nine companies that started the traditions and stand to benefit one of the most.
Who invented it: 1-800-Flowers. com Chief Executive Officer Jim McCann
Why it’s a tradition: Flowers, especially red roses, symbolize love and make budget friendly presents. This year, 60% of men and 15% of women are expected to acquire flowers.
1-800-Flowers gets 1 million brand-new clients every Valentine’s Day. McCann informed CNN his business does about 10 % of its yearly sales in the run-up to Valentine’s Day, but the additional infrastructure that’s needed to pull it off raises costs. It employs around 6,000 extra employees to help with the attack of orders for fresh flowers. In the end, he shares, it’s worth it for the exposure.
The Hershey Company
Who invented it: The Hershey Company was founded by Milton S. Hershey and is among the largest chocolate makers in North America. Its head offices are in Hershey, Pennsylvania, which is likewise home to Hershey’s Chocolate World.
Why it’s a tradition: Some claim chocolate is an aphrodisiac due to 2 chemicals: tryptophan, a foundation of serotonin, a brain chemical associated with sexual stimulation, and phenylethylamine, a stimulant associated with amphetamine, which is launched in the brain when people fall in love. Chocolates, then, are fuel for both the mental and physical facets of romance – which is why enthusiasts provide boxes of them to each other.
Hershey’s is a specifically popular brand name in the U.S., and does especially well each February 14th. Its stock has the tendency to shoot up right after Valentine’s Day, reports Benzinga.
Who invented it: Hallmark Cards wased established by Joyce C. Hall, and is the largest producer of greeting cards in the U.S.
Why it’s a tradition: The earliest understood examples of written Valentine cards are the love letters the put behind bars Duke of Orleans sent out to his other half in 1415. Manufacturing facilities started assembling paper Valentines in the very early nineteenth century, and greeting card companies began cropping up by the 1850s to satisfy the need for Valentine’s Day and other vacation cards.
Hallmark produces around 1,400 Valentine’s Day greeting card designs. The company first provided Valentine’s Day cards in 1913 and began producing their own cards in 1916. According to Statistic Brain, 144 million people sent out Hallmark cards last Valentine’s Day, making it the business’s second biggest day, after Christmas.
See the remainder of the story at Company Insider