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Chocolates, flowers and cards are among the popular gifts people choose to express love and appreciation on Valentine’s Day. This year, American shoppers are expected to spend an eye-popping $29.1 billion on the love holiday, according to an annual survey conducted by the National Retail Federation and Prosper Insights & Analytics. “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,” said Katherine Cullen, NRF Vice President of Industry and Consumer Insights. The annual survey polled about 7,800 adult consumers about their Valentine’s Day shopping plans and found that more than half of respondents plan to celebrate the holiday. The majority of celebrants plan to purchase gifts for their significant others and family members. Buyers will spend about $200 in total on significant others, friends, pets and others. That’s slightly more than they spent in 2020, when spending reached a record $196.31. About one-third of buyers said they plan to purchase gifts for friends, spending about $31. Holiday spending on pets and colleagues continues to trend up from previous years. The number of consumers planning to buy gifts for their pets is up 21% from last year, with shoppers spending about $2.50 more on pet gifts.Candy remains the most popular Valentine’s Day gift, with more than half of celebrants planning to purchase it. The next most popular gifts are greeting cards and flowers. PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiPiFmdW5jdGlvbigpeyJ1c2Ugc3RyaWN0Ijt3aW5kb3cuYWRkRXZlbnRMaXN0ZW5lcigibWVzc2FnZSIsKGZ1bmN0aW9uKGUpe2lmKHZvaWQgMCE9PWUuZGF0YVsiZGF0YXdyYXBwZXItaGVpZ2h0Il0pe3ZhciB0PWRvY3VtZW50LnF1ZXJ5U2VsZWN0b3JBbGwoImlmcmFtZSIpO2Zvcih2YXIgYSBpbiBlLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKWZvcih2YXIgcj0wO3I8dC5sZW5ndGg7cisrKXtpZih0W3JdLmNvbnRlbnRXaW5kb3c9PT1lLnNvdXJjZSl0W3JdLnN0eWxlLmhlaWdodD1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdW2FdKyJweCJ9fX0pKX0oKTs8L3NjcmlwdD4=
Chocolates, flowers and cards are among the popular gifts people choose to express love and appreciation on Valentine’s Day.
This year, American shoppers are expected to spend an eye-popping $29.1 billion on the love holiday, according to an annual survey conducted by the National Retail Federation and Prosper Insights & Analytics.
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“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,” said Katherine Cullen, NRF Vice President of Industry and Consumer Insights.
The annual survey polled about 7,800 adult consumers about their Valentine’s Day shopping plans and found that more than half of respondents plan to celebrate the holiday. The majority of celebrants plan to purchase gifts for their significant others and family members.
Buyers will spend about $200 in total on significant others, friends, pets and others. That’s slightly more than they spent in 2020, when spending reached a record $196.31.
About one-third of buyers said they plan to purchase gifts for friends, spending about $31.
Holiday spending on pets and colleagues continues to trend up from previous years. The number of consumers planning to buy gifts for their pets is up 21% from last year, with shoppers spending about $2.50 more on pet gifts.
Candy remains the most popular Valentine’s Day gift, with more than half of celebrants planning to purchase it. The next most popular gifts are greeting cards and flowers.
