Americans to spend $14.6 billion on Valentine’s Day, report finds

It seems that love is in the air, and so is the spending as more people are apparently getting into the Valentine’s Day spirit this year.

Americans shopping for their significant others are expected to spend $14.6 billion this year, according to the latest annual survey by the National Retail Federation and Prosper Insights & Analytics. That is up from $14.2 billion in 2024.

The survey polled 8,020 adult consumers about their Valentine’s Day shopping plans in early January.

Despite strong spending trends, inflation could play a role in whether consumers choose to splurge or scale back, experts say. To that point, this record Valentine’s Day spending comes at a time when inflation is still relatively high in the U.S. The consumer price index, an inflation gauge, jumped 3% for the 12 months ending in January, according to the Bureau of Labor Statistics. 

The January reading is up from 2.9% in December, the fourth consecutive month of increases in the annual inflation rate when it was at 2.4% in September.

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While consumers may not feel great about the broader economy, “they still feel very willing to spend on what’s important to them,” said Katherine Cullen, vice president of industry and consumer insights at the National Retail Federation.

“These moments of celebration throughout the year have really seemingly grown in the consumer psyche,” or “becoming moments of joy,” she said.

“We’ve also seen people more likely than before the pandemic to say that they’re really living in the moment because the future is a little more uncertain,” Cullen added.

It can be a nice experience to splurge on the holiday. But if you find yourself with a tighter budget this year, there are financially savvy ways you can express your love, experts say.