Consumer spending on Valentine’s Day is expected to reach a record $29.1 billion, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics. The amount surpasses the previous record of $27.5 billion in 2025.
Shoppers are budgeting a record $199.78 on average for gifts, an increase from $188.81 last year and surpassing the previous record of $196.31 set in 2020, according to the survey.
“Valentine’s Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year,” NRF vice president of industry and consumer insights Katherine Cullen said 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.”
Who’s Celebrating Valentine’s Day?
Over half (55%) of consumers plan to celebrate Valentine’s Day this year. Most of those celebrating (83%) plan to purchase a gift for a significant other, according to the survey, with spending on gifts for romantic partners expected to reach $14.5 billion. An additional 58% plan to purchase gifts for other family members such as kids, parents or siblings, for a total of $4.5 billion in expected spending.
Outside of significant others and family members, one-third (33%) of consumers plan to purchase gifts for friends ($2.4 billion), according to the survey. Another 27% will purchase gifts for their children’s classmates and teachers ($2.2 billion), while 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, according to the survey, 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,” Prosper Insights & Analytics executive vice president of Strategy Phil Rist said in the release. “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.”
Valentine’s Day Spending
Candy remains the most popular Valentine’s Day gift, with 56% of consumers planning to purchase candy. Other top gifts include flowers (41%), greeting cards (41%), an evening out (39%) and jewelry (25%), according to the survey. However, shoppers are expected to spend the most — a total of $7 billion — on jewelry, followed by $6.3 billion on an evening out, $3.5 billion on clothing and $3.1 billion on flowers.
In line with recent years, the top shopping destination remains online (38%), followed by department stores (35%), discount stores (30%) and specialty stores (21%), according to the survey.
For those who are not planning on celebrating Valentine’s Day, nearly one-third (31%) still plan to mark the occasion in some way, according to the survey. Popular activities include splurging on a gift or self-care, or planning a get-together or outing with friends and family members.
