Love is in the air and Floridians will be breathing it in on Valentine’s Day this year, if sales expectations are any indication. The most romantic day of the year this Feb. 14th will also be profitable for businesses in the Sunshine State.
The Florida Retail Federation (FRF) projects a record number of people in the state plan to celebrate cupid’s holiday in some way this year. About 56% of Floridians will buy make a Valentine’s Day purchase to show their affection for a significant other, up three percentage points from last year.
All that love will amount to an estimated $14.6 billion in spending across the country, a record according to a National Retail Federation (NRF) survey recently published. Gifts for family members and to the windfall, with another $4.3 billion spent.
“Consumers across the state are breaking records all around this Valentine’s Day with many planning to show their love through gifting to significant others, family and friends,” FRF President and CEO Scott Shalley said. “Don’t forget to show some love to your Florida retailers (with) ‘Find It In Florida‘ while shopping this Valentine’s Day season. Florida retailers are stocked and ready to help shoppers find the perfect Valentine’s Day gifts.”
Across American, the total amount to be spent on Valentine’s Day is expected to reach $27.5 billion, another record that’s up from $25.8 billion last year just slightly over the previous Valentine’s Day spending record of $27.4 billion set in 2020.
The NRF projects each person in America buying Valentine’s Day gifts will spend about $188.81 each, up $3 from last year.
The most common Valentine’s Day gift is candy, with 56% of shoppers reporting that as an expected purchase. Another 40% say they’ll purchase flowers or greeting cards, while 35% say they’ll take their loved one out for dinner or entertainment. Another 22% say they’ll buy jewelry.
In Florida, 38% of Valentine’s Day shoppers say they’ll buy gifts online, while 34% say they’ll go to department stores and 29% plan to bargain shop at discount stores.
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