A new survey released on January 28 from the National Retail Federation concludes that consumers are all in and will be celebrating this Valentine's Day to the tune of $27.5 billion.
The amount is up from last year’s $25.8 billion and slightly above the previous record of $27.4 billion set in 2020.
Shoppers plan to spend $188.8 on average on the holiday, up from $185.8 in 2024.
Over half (56%) of consumers plan to celebrate Valentine’s Day this year, up from 53% in 2024. Men are more likely to celebrate the holiday this year with 55% saying they plan to participate in Valentine’s Day, up from 51% in 2024.
The most popular gift categories this year include candy (56%), flowers (40%), greeting cards (40%), an evening out (35%) and jewelry (22%). Across these categories, Americans plan to spend a total of $6.5 billion on jewelry, $5.4 billion on an evening out, $2.9 billion on flowers, $2.5 billion on candy and $1.4 billion on greeting cards.
Consumers continue to prioritize gifting for those closest to them. Total spending on significant others is expected to reach a new record of $14.6 billion, up from last year’s record of $14.2 billion. Total spending on gifts for family members is projected to reach $4.3 billion, up from $4 billion in 2024 and in line with 2020’s record of $4.2 billion.
One-third (32%) of consumers also plan to purchase gifts for friends this Valentine’s Day, up from 28% last year and the highest in the survey’s history. Another 19% expect to purchase gifts for co-workers, up from 16% in 2024 and another record. On par with last year, 32% also plan to purchase gifts for their pets.
In line with 2024, the top shopping destination remains online (38%), followed by department stores (34%), discount stores (29%) and florists and specialty stores (tied at 18%).
For those not planning to celebrate the holiday, 28% still plan to mark the occasion in some way. The most popular ways include treating themselves to something special, followed by planning a get-together or an evening out with other single friends and family.
