Valentine\u2019s Day spending is expected to reach $23.9 billion this year, up from $21.8 billion in 2021 and the second-highest year on record, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics.<\/p>\n\n\n\n
\u201cFollowing the historic level of consumer spending over the winter holidays, it appears that the trend will continue into 2022,\u201d NRF President and CEO Matthew Shay said. \u201cValentine\u2019s Day is a special occasion for many Americans, even more so as we navigate out of the pandemic, and retailers are prepared to help them mark the holiday in a memorable and meaningful way.\u201d<\/p>\n\n\n\n
More than half (53%) of US consumers plan to celebrate the holiday in 2022, up from 52% in 2021. More than three-quarters (76%) of those celebrating indicate it is important to do so given the current state of the pandemic.<\/p>\n\n\n\n
According to the survey, almost a quarter (22%) will opt to gift jewellery to a special someone. Total spending on jewellery is estimated at $6.2 billion, up from $4.1 billion in 2021 and the highest in the survey\u2019s history.<\/p>\n\n\n\n
Shoppers expect to spend an average of $175.41 per person on Valentine\u2019s Day gifts, up from $164.76 in 2021. The increase comes as many intend to spend more on significant others or spouses.<\/p>\n\n\n\n
Candy (56%), greeting cards (40%) and flowers (37%) remain the most popular gift items this Valentine\u2019s Day. <\/p>\n\n\n\n
\u201cWhile traditional Valentine\u2019s Day gifts like candy and flowers seem to never go out of style, gift givers and recipients alike are more comfortable heading out for a special meal or participating in a new experience than they were a year ago,\u201d Prosper Insights Executive Vice President of Strategy Phil Rist said. \u201cThis is especially true among younger age groups.\u201d<\/p>\n\n\n\n
Online continues to be the most popular shopping destination for Valentine\u2019s Day this year, visited by 41%, followed by department stores at 32%, discount stores at 28%, local small businesses at 18% and florists at 17%.<\/p>\n\n\n\n
The survey of 7,728 US adult consumers was conducted from 3rd<\/sup> to 11th January and has a margin of error of plus or minus 1.1% points.<\/p>\n","protected":false},"excerpt":{"rendered":" Valentine\u2019s Day spending is expected to reach $23.9 billion this year, up from $21.8 billion in 2021 and the second-highest year on record, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics. \u201cFollowing the historic level of consumer spending over the winter holidays, it appears that the…<\/p>\n","protected":false},"author":1,"featured_media":13685,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-13684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n