Predictions for Valentine's Day 2024

If you're wondering where your sales are - keep in mind, that Valentine's Day is typically a last minute holiday. Many sales occur the day of, rather than planned in advance - so it's important to have cash and carry items ready for purchase.

Here's the good news - - This Valentine's Day is expected to be as good if not better than last year. Although 2020 was a record sales year for the holiday, average spending continues to steadily grow.

According to the National Retail Federation, consumer spending on Valentine’s Day 2023 totaled $25.9 billion, and was up 8.37% from last year. While total spending for Valentine’s Day 2023 was up, it was 5.47% below the all-time high of $27.4 billion total spending on Valentine’s Day 2020.

While you can't put a price on love, here's a look at total Valentine's Day spending over the past few years:

		Annual Valentine’s Day Spending
Year	Average Budget	Total Spending
2023	$192.80	$25.9 billion
2022	$175.41	$23.9 billion
2021	$164.76	$21.8 billion
2020	$196.31	$27.4 billion
2019	$161.96	$20.7 billion
2018	$143.56	$19.6 billion
2017	$136.57	$18.2 billion
2016	$146.84	$19.7 billion
2015	$142.31	$18.9 billion

So how do consumers shop and where do they spend their money? Take a look:

• The average American consumer budgeted $192.80 for Valentine’s Day 2023, up 9.91% from 2022. The record high was $196.31 in 2020.

• Over 136.9 million or 53% of Americans shopped for Valentine’s Day in 2022.

• 53% of consumers buy candy, 40% of consumers shop for Valentine’s greeting cards, 37% shop for flowers and 21% shop for jewelry.

• The biggest spenders are adults between 35 and 44 years old, who spend on average $280 for the holiday. The over 65 crowd spends the least - - about $87.

• The average man celebrating Valentine’s Day spends $235 while the average woman spends $119 or 50.6% as much.

Here are some other interesting statistics:

• Pet owners spend a total of $2.14 billion on Valentine’s Day gifts for their pets - spending on average $31.24 for their dogs and $27.42 for cats.

• Here's a good one - - Americans spend up to $9.5 billion on Valentine’s Day gifts that are ultimately unwanted by their recipients.

• 47% of consumers plan to buy themselves a box of chocolates.

• 39% of Valentine’s candy and gifts go to children.

• 61% of men who purchase flowers gift them to a spouse.

• Over 140 million greeting cards are sold on Valentine's Day.

• In 2020, 10% of Valentine’s shoppers went into debt to purchase gifts.

For those of us in the floral world, here you go:

• There are more transactions for flowers on Valentine’s Day than on any other holiday (even Mother's Day).

• In preparation for Valentine’s Day, florists stock approximately 250 million roses.

• 22% of American adults purchase flowers for Valentine’s Day.

• 38% of men and 19% of women purchase flowers for Valentine’s Day.

• 83% of consumers who buy Valentine’s Day flowers purchase roses.

• Women are most likely to give mothers Valentine’s Day flowers (28%)

• Only 16% of consumers shop at local florists for Valentine's Day - - 35% of consumers shop online for Valentine’s Day gifts, 34% shop at department stores, 31% shop at discount stores and 17% shop at small local businesses.
  

"Marriage is a lot like the army - - everyone complains, but you'd be surprised

at the large number that re-enlist."

James Garner