Consumer Behavior

Inflation impacting Valentine's Day spending

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February 13, 2024

Nearly half of Americans say inflation is impacting Valentine's Day plans this year and three in 10 think the holiday is worth going into credit card debt.

Those are findings from a WalletHub study on spending regarding the annual love holiday, according to a press release.

Additional highlights include:

• 24% of Americans don't expect their Valentine to spend any money on a gift this year.
• $25.8 Billion: Total Valentine's Day spending projected for 2024 ($185.81 per person celebrating).
• Men will spend almost twice as much as women, on average, for Valentine's Day 2024.
• $11.3 Billion: Amount Americans will spend on jewelry ($6.4B) and a special evening out ($4.9B).