Consumer spending on Valentine’s Day is expected to reach a record $29.1 billion this year, according to an annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics. The projected total exceeds the previous record of $27.5 billion set in 2025.
Shoppers plan to spend an average of $199.78 on Valentine’s Day gifts, up from $188.81 last year and above the prior record of $196.31 recorded in 2020. More than half of consumers (55%) said they plan to celebrate the holiday.
Among those celebrating, 83% intend to purchase gifts for a significant other, with spending on romantic partners expected to total $14.5 billion. An additional 58% plan to buy gifts for other family members, including children, parents, and siblings, accounting for an estimated $4.5 billion in spending.
Gift-giving beyond immediate family continues to be a significant driver of spending. One-third of consumers (33%) plan to purchase gifts for friends, totaling $2.4 billion, while 27% expect to buy gifts for children’s classmates and teachers ($2.2 billion). About 21% plan to purchase gifts for coworkers, representing $1.7 billion in spending.
Pet-related purchases are also expected to reach a new high. A record 35% of consumers plan to buy Valentine’s Day gifts for their pets, with spending projected at $2.1 billion, up from $1.7 billion in 2025.
Candy remains the most common Valentine’s Day gift, with 56% of consumers planning to purchase it. Flowers and greeting cards are tied as the second most popular gifts at 41% each, followed by an evening out (39%) and jewelry (25%). In terms of total spending, jewelry leads with an estimated $7 billion, followed by evenings out at $6.3 billion, clothing at $3.5 billion, and flowers at $3.1 billion.
Online shopping is expected to be the top destination for Valentine’s Day purchases, cited by 38% of consumers. Department stores follow at 35%, with discount stores (30%) and specialty stores (21%) also ranking among preferred shopping channels.
Among consumers who do not plan to celebrate Valentine’s Day, nearly one-third (31%) said they still expect to mark the occasion in some way, such as treating themselves, practicing self-care, or spending time with friends and family.