Americans are expected to spend a platter amount on Valentine ’s Day this year despite a years - long decrease in the percentage of people celebrating the vacation , according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics .
“ The huge absolute majority of Valentine ’s Day dollars are still spent on significant others , but there ’s a big increase this class in consumer diffuse the love to kid , parents , ally and coworkers , ” NRF President and CEO Matthew Shay said . “ Those who are participating are spend more than ever and that could be the consequence of the hard thriftiness . With usage and income growing , consumer appear to be expand the scope of who qualify for a card or a box of confect . ”
Those surveil aver they would pass an average $ 161.96 . That ’s up 13 percent from last class ’s $ 143.56 and easy tops the premature platter of $ 146.84 circle in 2016 . full outgo is expected to be $ 20.7 billion , which is an increase of 6 percent over last yr ’s $ 19.6 billion and breach the previous book of $ 19.7 billion , also put in 2016 .
The spending increases come even though only 51 percent of Americans plan to celebrate the vacation , down from 55 percent last class and a high of 63 percent in 2007 . It is unclear why the number of consumer celebrating has cut down over the past 12 years , but outlay , while varying with the economy , has generally trend up . The lowest spending during the period was $ 102.50 in 2009 during the smashing Recession .
Of the $ 18.40 gain in intermediate spending , only $ 4.26 come from spend on spouses and significant others , which is bear to sum $ 93.24 . Consumers sound out they would expend $ 29.87 on other family members , up $ 4.58 ; $ 9.78 on Friend , up $ 2.59 ; $ 8.63 on children ’s classmate or teachers , up $ 1.37 ; $ 7.78 on Centennial State - workers , up $ 2.99 ; $ 6.94 on favourite , up $ 1.44 and $ 5.72 on others , up $ 1.17 .
As in each twelvemonth of the survey , men are the biggest Stephen Spender at $ 229.54 , up 20 percent from last class . That ’s more than double the $ 97.77 women said they would spend , which is down 1 percent , and is within the survey ’s margin of error .
Among age groups , those 35 - 44 are the biggest Valentine spenders at $ 279.14 , followed by those 25 - 34 at $ 239.07 . Both groups typically have more mass to buy for include children and shaver ’s classmate or instructor .
Gifts for favourite continue to be pop , purchased by 20 percentage . Pet spending is expect to total $ 886 million , up $ 519 million since NRF first asked in 2008 .
Those celebrating plan to spend $ 3.9 billion on jewellery ( given by 18 percent ) , $ 3.5 billion on an even out ( 34 pct ) , $ 2.1 billion on wearable ( 18 percent ) , $ 1.9 billion on flowers ( 35 per centum ) , $ 1.8 billion on confect ( 52 percentage ) , $ 1.3 billion on gift card ( 15 pct ) and $ 933 million on greeting posting ( 44 percent ) . Gifts of experience such as tickets to an event or a trip to a spa are want by 40 percent and plan to be generate by 25 percent .
section stores are the most democratic Valentine ’s Day shopping destination , visited by 35 pct of shopper , follow by deduction computer storage ( 32 pct ) , on-line ( 27 percent ) , specialty stores ( 18 percent ) flower store ( 16 percent ) , lowly or local business ( 14 per centum ) , jewelry stores and specialty clothing depot ( each 9 percent ) .
Even among those who do n’t project to celebrate Valentine ’s mean solar day as such , 11 percent design to treat themselves to gifts like wearable or jewellery and 9 percent be after to get together with other single friends or crime syndicate .
“ Valentine ’s Day signify unlike affair for different people , ” Prosper Vice President of Strategy Phil Rist said . “ Whether it ’s a day of romance or one of relieve oneself indisputable their children have enough cards in their backpacks for each of their classmates , it ’s an of import day for those who choose to participate . ”
The survey of 7,384 adults 18 and old was deal January 2 - 9 and has a gross profit of error of plus or minus 1.2 percentage points .
For more information : National Retail Federationnrf.com
