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Valentine's Day should deliver more experiential gifts this year

February 13, 2019

There'll be roses, jewelry and, of course, chocolate this Valentine's Day, but there will also be increased spend and focus on experiential experiences ranging from dining to travel excursions.

A Mastercard SpendingPulse study forecasts another year of positive sales growth compared to last year, with retail sales for restaurants jumping 5.4 percent, hitting $15.3 billion, and hotel sales increasing 9 percent, hitting $1.4 billion this year.

Yet jewelry sales are projected to dip compared to last year's 26.9 percent spike and luxury sales may be flat, according to a press release on the study.

One reason for the jewelry and luxury sales decline is that last year brought big tax cuts and corporate bonuses.

"We're continuing to see the rise of the experiential consumer, with Valentine's Day 2019 a solid example of this trend. As more Americans turn to experiences to show their affection, we expect to see solid growth for the restaurant and travel categories this year," said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks, in the release.