Cupid's Arrow Hits Wallets As Valentine's Day Spending Set To Break Records— Candy Is Most Popular, But Jewelry Commands The Dollars
Americans are expected to spend a record $29.1 billion this Valentine's Day, according to the latest survey from the National Retail Federation, with the average shopper shelling out nearly $200 on gifts.
From dazzling jewelry and dinner dates to sweet treats for friends and even pets, consumers are expanding their lists of loved ones — and pushing holiday spending to new heights in the process.
Candy, Jewelry, Flowers As Top Gift Choices
The annual survey, released late January, shows that Valentine’s Day spending is expected to surpass the previous record of $27.5 billion set in 2025. The average budget for gifts is also at an all-time high of $199.78, up from $188.81 last year. The survey was conducted across 7,791 respondents.
The NRF credits this growth to middle- and high-income shoppers broadening their gift lists to cover friends, colleagues, and even pets.
Of the consumers celebrating Valentine’s Day, 55% plan to buy gifts for their significant others, contributing to an expected $14.5 billion in spending. Additionally, 58% of respondents plan to buy gifts for other family members, totaling an estimated $4.5 billion. Remarkably, a record 35% of consumers are expected to purchase Valentine's Day gifts for their pets, driving spending up from $1.7 billion in 2025 to $2.1 billion this year.
The most popular gifts remain candy, flowers, greeting cards, an evening out, and jewelry. However, the highest spending is expected on jewelry, with a projected total of $7 billion. The top shopping destination continues to be online, followed by department stores, discount stores, and specialty stores.
Middle-Class Spending Shifts To Experiences
This record-breaking Valentine’s Day spending comes on the heels of a resilient 2025 holiday shopping season, where retail spending rose 4.2% year-over-year despite inflation concerns and economic uncertainty. This trend of increased spending continues despite retail sales stalling at the end of the year.
The NRF attributes the growth in Valentine’s Day spending to middle- and high-income consumers expanding their gift lists. This aligns with a recent report that showed middle-class Americans are spending more on non-essential items, such as vacations. This suggests a shift in consumer behavior, with people willing to spend more on experiences and personal enjoyment, despite economic uncertainties.
Companies likely to benefit from the Valentine's Day spending surge include florist 1‑800‑Flowers.com, Inc. (NASDAQ:FLWS), chocolate and candy makers, The Hershey Company (NYSE:HSY), and Mondelez International (NASDAQ:MDLZ), as well as specialty jewelry retailer Signet Jewelers (NYSE:SIG).
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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