Consumers are expected to spend a record $27.5 billion on Valentine’s Day this year, according to the National Retail Federation’s (NRF) new report. 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, according to the data.
“Whether they are celebrating a significant other or someone else in their lives, Valentine’s Day is meaningful for many people,” NRF Vice President of Industry and Consumer Insights Katherine Cullen said. “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 the NRF, over half (56%) of consumers plan to celebrate Valentine’s Day this year, up from 53% 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 … $2.5 billion on candy and $1.4 billion on greeting cards.”
NRF said that 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.
“Consumers plan to celebrate Valentine’s Day through a variety of ways to show appreciation and love for the many different people around them,” Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist said. “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.”
Survey results from the National Confectioners Association (NCA) showed the big four seasons (Christmas, Valentine’s Day, Easter and Halloween) account for 64% of annual sales for the $48 billion confectionery industry.
Interested in how well candy did in c-stores in 2024? Attend the NACS State of the Industry Summit April 8-10 in Dallas for insights on category data and trends.