Americans to spend $23.9 billion on Valentine’s Day this year
Valentine's Day spending is expected to reach $23.9 billion this year, according to a new studies.
Recent surveys from Lending Tree and the National Retail Federation say Americans who celebrate are projected to spend between $175 and $210 this year. Experts say couples that have been together for less time tend to spend on the higher side of that.
The total spending of $23.9 billion is up from $21.8 billion in 2021 and the second-highest year on record.
More than half (53%) of U.S. consumers plan to celebrate the holiday in 2022, up from 52% in 2021.
The reports say candy (56%), greeting cards (40%) and flowers (37%) remain the most popular gift items this Valentine's Day. Nearly a third of people say they plan to gift an "evening out" this year, up from 24% in 2021 and just slightly below pre-pandemic levels.