Consumers are projected to spend $25.9 billion on Valentine’s Day this year, up from $23.9 billion in 2022, an 8.4% increase.
More than half (52%) of consumers plan to celebrate and will spend an average of $192.80, up from $175.41 in 2022, nearly a 10% increase year over year.
Of the expected $17 increase in per-person spending, $14 will come from gifts for pets, friends and co-workers, as well as classmates and teachers.
Those aged 35 to 44 will spend more than other age groups, with an expected $335.71 on average for gifts and other Valentine’s Day items, about $142.91 more than the average Valentine’s Day shopper.
