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NRF: Valentine's Day spending could hit $27.5 billion

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Valentine's Day
NRF says that shoppers plan to spend $188.81 on average on Valentine's Day this year.

Valentine’s Day spending is expected to hit a new record this year, with more than half of consumers planning to celebrate.

Consumers are expected to spend a record $27.5 billion on Valentine’s Day this year, according to the annual survey from the National Retail Federation (NRF) and Prosper Insights & Analytics. 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 $188.81 on average on the holiday, up from $185.81 in 2024.

Fifty-six percent of American 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.

“Whether they are celebrating a significant other or someone else in their lives, Valentine’s Day is meaningful for many people,” said Katherine Cullen, NRF’s VP of industry and consumer insights. “Consumers are looking for special ways to treat their loved ones and can expect retailers to provide the best gift options and deals.”

According to NRF’s survey, 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.

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.

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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. Roughly a third (32%) also plan to purchase gifts for their pets, which is on par with last year.

“Consumers plan to celebrate Valentine’s Day through a variety of ways to show appreciation and love for the many different people around them,” said Phil Rist, Prosper Insights & Analytics executive VP of strategy. “Purchasing gifts for those outside of significant others or family members continues to rise in popularity and reflects consumers’ growing interest in celebrating all the meaningful relationships in their lives.”

[READ MORE: NRF: Holiday sales ‘unexpectedly high' with 4% increase over 2023]

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, more than a quarter (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.

NRF and Prosper Insights & Analytics asked 8,020 adult consumers about their Valentine’s Day shopping plans between Jan. 2-7.

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