American consumers to spend over $19 billion on Valentine’s Day this year

Image courtesy of Norman Love Confections
 
According to the National Retail Federation, U.S. consumers are expected to spend an average $143.56 per person on Valentine’s Day this year, for a grand total of $19.6 billion. That would be a significant increase from the $136.57 per person and $18.2 billion total from last year, and the second highest total in history behind 2016’s $19.7 billion.

“Americans are looking forward to pampering and indulging their loved ones with flowers, candy, dinner, and all of the other Valentine’s Day stops,” says NRF President and CEO Matthew Shay. “With the holidays behind them and the winter months dragging along, consumers are looking for something to celebrate this time of year.”

The NRF goes on to say that close to $1.8 billion will be spent on candy. It’s the biggest day of the year for chocolate, and many retailers look to step up their game with new products and promotions to get customers in the door before and during February 14.

“Valentine’s Day has become a holiday consumers take advantage of not only to spoil their loved ones but themselves,” says Prosper Executive Vice President of Strategy Phil Rist. “Shoppers should look out for deals on everything from candy to date-night dinner packages in the coming days, leaving plenty of options for those looking to make the occasion truly special.”