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  • Writer's pictureJan Peterson

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


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