For Valentine’s Day, Americans Will Spend More Than $25 Billion

Americans are anticipated to spend billions of dollars on Valentine’s Day, all in the name of romance.

According to a National Retail Federation survey, consumers in the United States will spend $25.9 billion. That would be an increase of $2 billion from 2022.

In comparison to 2022, when they spent $175.41 on the day, customers are predicted to spend an average of $192.80 each. People between 35 and 44 are anticipated to spend somewhat more than any other age group, with that number forecast to increase to $335.71.

According to Matthew Shay, president and chief executive officer of the National Retail Federation, “This year, as consumers embrace spending on friends and loved ones, retailers are prepared to help customers celebrate Valentine’s Day with special gifts at affordable prices.”

So what are people going to purchase? According to the survey, 57 percent of V-Day spending will go toward chocolates, 40 percent toward flowers, 21 percent toward jewelry, 20 percent toward gift cards, and 19 percent toward apparel.

More than half of those who plan to spend money will shop during sales and promotions, according to the survey.