Americans will spend $ 23.9 billion on Valentine’s Day this year, a significant increase from $ 21.8 billion last year, and this year is the second-highest year, according to a National Federation Retail by Prosper Insights & Analytics.
“Given the historical level of consumer spending during the winter holidays, it looks like the trend will continue until 2022,” NRF President and CEO Matthew Shay said in a press release about the study’s findings.
Buyers expect to spend an average of $ 175.41 per person on gifts, compared to $ 164.76 in 2021.
“While traditional Valentine’s Day gifts, such as candy and flowers, seem to never go out of style, donors and gift recipients alike are more comfortable going out to a special meal or sharing a new experience than they were before. with one year, ”Prosper Insights Executive Vice President of Strategy Phil Rist said in a statement. “This is especially true among younger age groups.”
https://www.retailcustomerexperience.com/news/holiday-spend-trend-extending-to-valentines-day/ The trend of holiday spending extends to Valentine’s Day