Consumer Behavior

Valentine’s Day spending projected to be record-setting

Photo: Generated by AI. Adobe Stock.

February 2, 2026

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Consumer spend on Valentine's Day is projected to hit a record $29.1 billion, according to a survey from the National Retail Federation conducted by Prosper Insights & Analytics.

If the prediction pans out the spend would surpass the previous record of $27.5 billion in 2025, according to a press release.

Shoppers are budgeting a record $199.78 on average for gifts, an increase from $188.81 last year and surpassing the previous record of $196.31 set in 2020.

"Valentine's Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year," NRF Vice President of Industry and Consumer Insights Katherine Cullen said in the release. "Much of that growth is driven by middle- and high-income shoppers who are expanding their gift lists to include friends, co-workers and even pets in addition to loved ones."

Over half (55%) of consumers plan to celebrate Valentine's Day this year. Outside of significant others and family members, one-third (33%) of consumers plan to purchase gifts for friends ($2.4 billion). Another 27% will purchase gifts for their children's classmates and teachers ($2.2 billion), while 21% will buy gifts for co-workers ($1.7 billion).

Additionally, a record 35% of consumers plan to purchase Valentine's Day gifts for their pets this year, totaling $2.1 billion up from $1.7 billion in 2025.

Candy remains the most popular Valentine's Day gift, with 56% of consumers planning to purchase candy. Other top gifts include flowers (41%), greeting cards (41%), an evening out (39%) and jewelry (25%). However, shoppers are expected to spend the most — a total of $7 billion — on jewelry, followed by $6.3 billion on an evening out, $3.5 billion on clothing and $3.1 billion on flowers.

The survey polled 7,791 adult consumers during early January.