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Valentine’s Day consumer spending is expected to reach a record $29.1 billion this year, according to an annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics.
This year’s anticipated amount surpasses the previous record of $27.5 billion in 2025. Shoppers are budgeting a record $199.78 on average for gifts, up 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,” says NRF vice president of industry and consumer insights Katherine Cullen. “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, with most of those planning to purchase a gift for a significant other, with spending on gifts for romantic partners expected to reach $14.5 billion. An additional 58% plan to purchase gifts for other family members, totaling $4.5 billion.
“Valentine’s Day underscores the value of relationships, and for many people, the connection they share with their pets is an important one,” Prosper Insights & Analytics executive vice president of strategy Phil Rist said. “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.”
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) and 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.
The most popular Valentine’s Day gift categories include candy (56%), flowers (41%), an evening out (39%) and jewelry (25%). Consumers are expected to spend the most on jewelry ($7 billion), followed by $6.3 billion on an evening out, $3.5 billion on clothing and $3.1 billion on flowers.
Top shopping destinations include online (38%), followed by department stores (35%), discount stores (30%) and specialty stores (21%).
For those not planning to celebrate Valentine’s Day, 31% still plan to mark the occasion in some way through spending on a gift or self-care or planning a get-together or outing with friends and family members.
