US shoppers are going to spend $6.5 billion on jewelry for Valentine’s Day, a record high for the category, according to the National Retail Federation (NRF). Surveys are great for understanding the overall tendencies in society and for retailers to be ready to offer what consumers want. Of course, jewelry is not the only thing people spend money on; however, dining out, flowers, candy, and greeting cards go after shiny accessories when it comes to presents. The reported spending is 2% higher than the $6.4 billion that was expected a year earlier.
The NRF also forecast that the total spending on gifts for loved ones will reach $27.5 billion, which is 7% more than the previous estimate of $25.8 billion and the highest amount recorded since the survey began in 2004. The last time spending reached this level was in 2020.
Valentine’s Day is an important and wonderful opportunity to show love for your partner and other people that are important to you, be it your granny or best friend. So, it’s time for some creativity and options from retailers as shoppers seek gifts outside of traditional things with an eye also towards unique ways to treat loved ones.
The survey showed that over half of US consumers will celebrate the holiday this February. Those who intended to spend money were expected to spend an average of $189, which is 2% higher than the previous year and similar to spending levels seen in 2020 before the pandemic. Increased spending on significant others is predicted to hit a record $14.6 billion, rising by 3% compared to the previous year. Additionally, spending on gifts for family members was forecast to grow by 7% to $4.3 billion.
Furthermore, one third of shoppers planned to buy presents for friends—a 28% increase from 2024 and the highest in the survey’s history. About 19% planned to buy gifts for coworkers, marking a 16% increase, while 32% intended to purchase something for their pets. Men were also more inclined to mark the occasion this year, with 55% preparing to do so, up from 51% last year, the survey also found.
Candy was the most popular gift choice, selected by 56% of respondents, while flowers and greeting cards each received a 40% share. More than one third of buyers indicated they would spend on an evening out, and approximately 22% chose jewelry as the top gift for a loved one.
The survey also showed that online shopping is the most preferable option for most people (38%), while department stores come a close second (34%). Some people (29%) consider discount shops as a place to find a gift, and 18% of responders planned to make their purchases at both florists and specialty shops. Phil Rist, the executive vice president of strategy, stated that people planned to mark Valentine’s Day in many ways to show care for various important relationships. He noted that purchasing gifts for people other than romantic partners or family is now more common, which reflects the rising trend of celebrating all of the meaningful relationships in one’s life.
