Valentine’s Day Spending To Hit $26 Billion, As ‘Experience Gifts’ Grow In Popularity (2024)

FAQs

How much will people spend on Valentine's Day in 2024? ›

The National Retail Federation (NRF) projects total spending will approach $25.8 billion on Valentine's Day in 2024. This is on par with last year and is significantly higher than the pandemic years. That said, we've not yet recovered to pre-COVID spending for Cupid's birthday.

Some 33% will shop in department stores, while 31% will head to discount stores, and 17% will buy from florists, the NRF notes. Candy (at 57%), greeting cards (40%), and flowers (39%) will be the most popular gifts. But don't discount an evening out, which ranks at No. 4 with 32%.

Valentine's Day exploded in popular culture beginning in the 1840s. The origins of Valentine's Day are pretty obscure. While scholars generally agree that the holiday was popularized in the 1840s in the U.K. and U.S., the specific historical roots of the celebration remain ambiguous.

SALT LAKE CITY — According to the National Retail Federation, the average American will spend about $185 celebrating Valentine's Day this year. The nation as a whole spends an estimated $25.8 billion.

Not only that, Valentine's Day tends to be the most popular day to get engaged. Spending differs by gender and age. Men spend more on Valentine's Day ($200+), while women usually spend less. Millennials are the biggest spenders, with those in that age group planning to spend around $300 on the holiday.

According to the National Retail Federation (NRF), 62% of consumers ages 25-34 plan to celebrate Valentine's Day in 2024. The projected total in general for spending is $25.8 billion, while the projection for spending specifically on significant others is $14.2 billion.

Beyond The Classic Heart-Shaped Bouquet And Chocolates

While flowers, candy and greeting cards still top the list of main gifts, younger generations are shifting the way Valentine's Day is being celebrated, looking beyond traditional gifts.

The target market for Valentine's Day includes not just romantic couples but also friends, family members, and even individuals celebrating self-love.

From heart-shaped candy to jewelry, this extreme holiday-driven consumerism is proving to have lasting effects on the environment and people's relationships with materialistic gift giving. Valentine's Day is the second largest materialistic holiday and is a massive contributor to consumerism.

Happy Valentine's Day 2024: Valentine's Day falls annually on February 14. The celebrations for the day of love begin a week before, starting with Rose Day and ending with Kiss Day.

Who popularized Valentine's day? ›

Lupercalia survived the initial rise of Christianity but was outlawed—as it was deemed “un-Christian”—at the end of the 5th century, when Pope Gelasius declared February 14 St. Valentine's Day. It was not until much later, however, that the day became definitively associated with love.

The countries where Valentine's Day were most likely to be celebrated were the US, South Africa, Chile, India, Turkey, Mexico, Poland, and China. The countries where it was least likely to be observed were the Netherlands, South Korea, and Germany.

Flower companies profit enormously. Throughout the year, Americans purchase flowers for occasions including Mother's Day, Easter and New Year's Day. For Valentine's Day, Americans go big — and in 2024, they're expected to spend $2.6 billion on flowers and floral arrangements.

52% of Americans Would Skip Valentine's Day | LendingTree.

Retailers and restaurants are ready to cash in on an expected $25.8 billion for Valentine's Day spending this year, including $14.2 billion consumers will spend on significant others, according to the National Retail Federation (NRF). The total spending estimate is a bit less than the $25.9 billion reported in 2023.

“On February 14, Americans celebrate love and friendship by exchanging cards, flowers, and candy. Although the origins of Valentine's Day are murky, ancient Romans celebrated the feast of Lupercalia, a spring festival, on the fifteenth of February.

Given the average price in supermarkets over the whole year for a dozen roses was a bit over $12, this means people in the U.S. are spending more than $3 billion annually.

Americans send 145 million Valentine's Day cards each year. According to Hallmark, a whopping 145 million Valentine's Day cards are exchanged every February 14 (and that's not even including all those kids' valentines exchanged in classrooms!).