Consumers plan to increase Valentine’s Day spending to nearly $26 billion

Feb 2, 2023
Written by WR Communications

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.

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