This Valentine’s Day, consumers are set to spend a record $27.5 billion, surpassing last year’s $25.8 billion and exceeding the previous all-time high of $27.4 billion set in 2020. According to the latest survey from the National Retail Federation (NRF) and Prosper Insights & Analytics, more people are participating in the holiday, with 56% of consumers planning to celebrate, up from 53% in 2024.
“Consumers plan to celebrate Valentine’s Day through a variety of ways to show appreciation and love for the many different people around them. 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,” said Phil Rist, executive vice president of strategy, Prosper Insights & Analytics.
Spending more than ever
While romantic partners remain the primary recipients of gifts, Valentine’s Day spending habits are evolving. More people than ever are purchasing gifts for friends, co-workers, and even pets. A record-breaking 32% of consumers plan to buy gifts for their friends this year, up from 28% last year, marking the highest percentage in the survey’s history.
The workplace also feels the love, with 19% of shoppers buying gifts for co-workers, a notable increase from 16% in 2024. Meanwhile, pet owners remain consistent in their devotion, with 32% of shoppers planning to purchase gifts for their furry companions, which is on par with last year.
Traditional Valentine’s Day gifts dominate shopping carts, with candy remaining the most popular choice among 56% of consumers. Flowers and greeting cards tie at 40%, reflecting the continued appeal of classic romantic gestures.
Experiences and outings are also a priority, with 35% of consumers planning a special night out. Meanwhile, 22% of shoppers choose jewellery as their gift.
Regarding where shoppers make their purchases, online shopping is the preferred choice, with 38% of consumers buying gifts digitally. Department stores follow closely behind at 34%, while discount stores remain popular at 29%. Florists and speciality shops are also key destinations, with 18% of consumers turning to them for their Valentine’s Day purchases.