IE Business Daily Business news for the Inland Empire.
U.S. consumers are expected to spend $27.5 billion on Valentine’s Day this year, according to the National Retail Federation.
That would top the $25.8 billion spent last year, and would be slightly higher than the previous record of $27.4 billion spent in 2020, the Washington, D.C.-based trade association reported.
Shoppers plan to spend $188.81 on Valentine’s Day this year, about $3 more than they spent one year ago.
“Consumers are looking for special ways to treat their loved ones, and they can expect retailers to provide the best gift options and deals,” said Katherine Cullen, the federation’s vice president of industry and consumer insights, in a statement.
Fifty six percent of those surveyed said they will celebrate Valentine’s Day this year, up from 53 percent in 2024. Fifty five percent of men surveyed said they will celebrate Valentine’s Day this year, four percent more than last year, the federation reported.
