Consumer Behavior

Valentine’s Day projected to be record-setting spend event

Photo: Adobe Stock

February 6, 2025

Consumers will spend a record $27.5 billion on Valentine's Day this year, up from $25.8 billion in 2024 and over the previous record of $27.4 billion set in 2020, according to an annual survey from the National Retail Federation and Prosper Insights & Analytics.

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%).

"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 in a press release on the spend projection data. "Consumers are looking for special ways to treat their loved ones and can expect retailers to provide the best gift options and deals."

Over half, 56%, of consumers plan to celebrate Valentine's Day this year, up from 53% in 2024.

Top gift categories this year include candy (56%), flowers (40%), greeting cards (40%), an evening out (35%) and jewelry (22%).

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 in the release. "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."