SurveysJan 29, 2025
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Valentine’s Day Jewelry Spending Forecast to Hit Record High, Says NRF
Those celebrating Valentine’s Day this year are expected to spend a record $27.5 billion on jewels, flowers, candy, and more.
The “Sweet Life” ring by Mined + Found is made of 14-karat yellow gold with enamel and diamonds ($6,450). Consumers are expected to spend a record $27.5 billion on Valentine’s Day this year, according to the annual survey by the NRF and Prosper Insights & Analytics.
Washington—The National Retail Federation is forecasting a lovely Valentine’s Day for retailers, with jewelry once again a top gift for the holiday.
Consumers are expected to spend a record $27.5 billion on Valentine’s Day this year, according to the annual survey by the NRF and Prosper Insights & Analytics, up from $25.8 billion last year and surpassing the previous record of $27.4 billion in 2020.
Shoppers plan to spend $188.81 on average, up from $185.81 last year.
“Whether they are celebrating a significant other or someone else in their lives, Valentine’s Day is meaningful for many people,” said NRF Vice President of Industry and Consumer Insights Katherine Cullen.
“Consumers are looking for special ways to treat their loved ones and can expect retailers to provide the best gift options and deals.”
Jewelry is the fifth-most popular gift option but No.1 in terms of dollars spent, with 22 percent of shoppers expected to buy jewelry, spending a record $6.5 billion.
In the No. 1 spot for most popular gift is candy (56 percent, $2.5 billion), followed by flowers (40 percent, $2.9 billion), greeting cards (40 percent, $1.4 billion), and an evening out (35 percent, $5.4 billion).
More than half of consumers (56 percent) plan to celebrate Valentine’s Day this year, up from 53 percent in 2024.
Men are more likely to celebrate the holiday than women this year, with 55 percent saying they plan to participate, up from 51 percent in 2024.
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Consumers are expected to spend a record $27.5 billion on Valentine’s Day this year, according to the annual survey by the NRF and Prosper Insights & Analytics, up from $25.8 billion last year and surpassing the previous record of $27.4 billion in 2020.
Shoppers plan to spend $188.81 on average, up from $185.81 last year.
“Whether they are celebrating a significant other or someone else in their lives, Valentine’s Day is meaningful for many people,” said NRF Vice President of Industry and Consumer Insights Katherine Cullen.
“Consumers are looking for special ways to treat their loved ones and can expect retailers to provide the best gift options and deals.”
Jewelry is the fifth-most popular gift option but No.1 in terms of dollars spent, with 22 percent of shoppers expected to buy jewelry, spending a record $6.5 billion.
In the No. 1 spot for most popular gift is candy (56 percent, $2.5 billion), followed by flowers (40 percent, $2.9 billion), greeting cards (40 percent, $1.4 billion), and an evening out (35 percent, $5.4 billion).
More than half of consumers (56 percent) plan to celebrate Valentine’s Day this year, up from 53 percent in 2024.
Men are more likely to celebrate the holiday than women this year, with 55 percent saying they plan to participate, up from 51 percent in 2024.
Similar to last year, respondents are prioritizing giving gifts to loved ones, whether they have a romantic or friendly relationship.
“Consumers plan to celebrate Valentine’s Day through a variety of ways to show appreciation and love for the many different people around them,” said Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist.
“Purchasing gifts for those outside of significant others or family members continues to rise in popularity and reflects consumers’ growing interest in celebrating all the meaningful relationships in their lives.”
Total spending on significant others is expected to reach a new record of $14.6 billion, up from last year’s record of $14.2 billion.
There are two more spending records forecast this year.
A record percentage of people (32 percent) are buying gifts for friends this year, up from 28 percent last year.
A record 19 percent of respondents are expected to buy a gift for coworkers, up from 16 percent in 2024.
Spending on gifts for family members is forecast to reach $4.3 billion, up from $4 billion last year and in line with the previous record of $4.2 billion in 2020.
Pets will feel the love too, with 32 percent planning to buy a gift for their pets, in line with last year.
The most popular shopping destination is online (38 percent), followed by department stores (34 percent), discount stores (29 percent), and florists and specialty stores (tied at 18 percent).
Though not everyone will celebrate the holiday in the traditional sense, 28 percent of respondents said they still plan to mark the occasion.
The most popular ways to do that include treating oneself to something nice and planning a get-together with other single friends and family.
The survey included 8,020 adult consumers and was conducted Jan. 2-7.
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