Valentine’s Day may be for lovers, but it’s also good for business. And the holiday is likely to see a big boost in spending this year.
The National Retail Federation (NRF) is projecting that American shoppers will spend more than ever on gifts for the Feb. 14 celebration. The NRF is projecting that a record $29.1 billion will be spent in the U.S. for Valentine’s Day, according to a survey conducted by the business promotion organization.
That figure would be up from last year’s record of $27.5 billion spent on Valentine’s Day gifts. Individually, each consumer would spend $199.78 for the holiday. The record for that metric was set in 2020, when the per-person average for Valentine’s gifts was $196.31.
While those figures account for national Valentine’s Day spending, the Florida Retail Federation (FRF) is steering shoppers to local businesses.
“Love is in the air this season, and Florida shoppers are looking to spoil their sweethearts,” said Scott Shalley, FRF President and CEO. “Spread some love at Florida businesses by shopping local this Valentine’s Day. From candy to carats, Florida retailers have a wide range of items to show your loved ones, friends, neighbors and pets how much you care.”
The NRF survey showed that some 55% of American consumers plan to celebrate Valentine’s Day this year. Out of those, about 83% will purchase some sort of Valentine’s gift for their partners. The survey also found that 33% will likely purchase a gift for friends, 27% will buy merchandise for their children to exchange with schoolmates or teachers, and 21% will get a gift for co-workers.
FRF officials are urging shoppers in the Sunshine State to go to the organization’s “Find It in Florida” website to find local businesses to support.
