Consumers set to spend $23.9 billion on Valentine’s Day

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Consumers are expected to spend up to $2.1 billion more than last year.

Retailers expect to feel the love this Valentine’s Day, with sales across the country expected to reach $23.9 billion this year, according to the Florida Retail Federation.

It’s true – the National Retail Federation just published survey results that show consumers are expected to spend up to $2.1 billion more than last year.

“Floridians are ready to spoil that special someone for Valentine’s Day,” Scott Shaley, president and CEO of the Florida Retail Federation, said in a statement. “Our retailers have everything you need to show your love and affection. Don’t forget to find it in Florida and support local retailers as you celebrate this special day.

The expected increase in spending in 2022 will also be the second highest year on record for Valentine’s Day spending, with 53% of shoppers planning to celebrate this year with a partner.

With more than half of consumers planning something special for the holidays, most will spend more this year than last. Shoppers are expected to spend $175.41 on average to show their love, up from $164.76 in 2021.

About 22% of shoppers plan to gift something shiny, perhaps to shine some light after a tough year. Total jewelry spending this year is estimated to peak at $6.2 billion, up from $4.1 billion in 2021.

And, couples also celebrate the holidays with food (yum!).

The top five items consumers plan to buy this holiday are candy (56%), cards (40%), flowers (37%), a party (31%) and jewelry (22%).

The FRF encourages shoppers to show their love by buying local using the “Find It In Florida” program on its website.


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