NRF: Americans Poised to Spend More Than Ever on Valentine’s Day Gifts.

Consumer spending on Valentine’s Day is expected to reach a record $29.1 billion this year, according to an annual survey released by the National Retail Federation and Prosper Insights & Analytics.

The projected total exceeds the previous high of $27.5 billion set in 2025. Shoppers are expected to spend an average of $199.78 on Valentine’s Day gifts, up from $188.81 last year and above the prior record of $196.31 in 2020.

“Valentine’s Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year,” Katherine Cullen, Vice President of Industry and Consumer Insights at the National Retail Federation, says in a news 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.”

More than half of consumers (55%) plan to celebrate Valentine’s Day this year, the survey found. Among those celebrating, 83% expect to buy a gift for a significant other, with spending on romantic partners projected to total $14.5 billion. About 58% plan to purchase gifts for other family members, including children, parents and siblings, accounting for an estimated $4.5 billion in spending.

Consumers are also expected to spend billions of dollars on gifts beyond immediate family. About one-third, or 33%, plan to buy gifts for friends, totaling $2.4 billion. Another 27% intend to purchase gifts for children’s classmates and teachers, with expected spending of $2.2 billion, while 21% plan to buy gifts for co-workers, amounting to $1.7 billion.

Pet-related Valentine’s Day spending is also expected to reach a record level. The survey found that 35% of consumers plan to purchase gifts for their pets, totaling $2.1 billion, up from $1.7 billion in 2025.

“Valentine’s Day underscores the value of relationships, and for many people, the connection they share with their pets is an important one,” says Phil Rist, Executive Vice President of Strategy at Prosper Insights & Analytics. “Whether it’s a dog, cat or other animal, consumers are looking to celebrate their pets this Valentine’s Day with a special toy, accessory or treat.”

Candy remains the most popular Valentine’s Day gift, with 56% of consumers planning to purchase it. Flowers and greeting cards follow at 41% each, while 39% plan an evening out and 25% intend to buy jewelry. Despite fewer buyers, jewelry is expected to generate the highest spending at $7 billion, followed by evenings out at $6.3 billion, clothing at $3.5 billion and flowers at $3.1 billion.

Online shopping continues to be the most common destination for Valentine’s Day purchases, cited by 38% of consumers. Department stores ranked second at 35%, followed by discount stores at 30% and specialty stores at 21%.

Among consumers who do not plan to celebrate Valentine’s Day, nearly one-third said they still expect to mark the occasion in some way, such as by treating themselves to a gift or self-care, or by planning a gathering with friends or family.

The survey was conducted Jan. 2-8 among 7,791 adult consumers and has a margin of error of plus or minus 1.1 percentage points.