- The National Retail Federation projects Americans will spend $29.1 billion on Valentine's Day.
- Individual gift spending is likely to hit nearly $200.
- Shoppers will show their pets some love to the tune of over $2 billion.
U.S. retailers are slated to feel the most love ever when it comes to Valentine’s Day spending this year with consumers expected to drop over $29 billion on the cupid-themed holiday.
The projection comes from data gathered in an annual survey conducted by the National Retail Federation. This year’s projected $29.1 billion in Valentine’s Day-related spending is set to surpass the previous record of $27.5. billion set in 2025. Individual spending this year on Valentine’s Day gifts is also expected to reach a new all-time high of $199.78, outstripping the previous high mark of $196.31 set in 2020.
National Retail Federation vice president of industry and consumer insights Katherine Cullen said the new record would be set thanks in large part to increased spending by upper income Valentine’s Day celebrants.
“Valentine’s Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year,” Cullen said in a press release. “Much of that growth is driven by middle- and high-income shoppers who are expanding their gift lists to include friends, coworkers and even pets in addition to loved ones.”
In its national survey, the retail federation found that over half of respondents, 55%, said they plan to celebrate Valentine’s Day this year. Most of those celebrating, 83%, plan to purchase a gift for a significant other, with spending on gifts for romantic partners expected to reach $14.5 billion, per the survey. An additional 58% plan to purchase gifts for other family members such as kids, parents or siblings, for a total of $4.5 billion in expected spending.
Who’s getting what for Valentine’s Day?
The survey also revealed the top five Valentine’s Day gift categories for 2026:
- Candy
- Greeting cards
- Flowers
- An evening out
- Jewelry
Beside significant others and family members, the survey found one-third of respondents plan to purchase gifts for friends, accounting for $2.4 billion in projected spending. Another 27% will purchase gifts for their children’s classmates and teachers, leading to $2.2 billion in expenditures. About 1 in 5 said they plan to buy gifts for coworkers, totaling an estimated $1.7 billion.
Turns out, furry friends and other household pets are among the faves when it comes to Valentine’s Day gift buying, with 35% of survey participants saying they plan to show their pets some love with a present. And they’ll spend an estimated $2.1 billion this year making it happen, up from last year’s $1.7 billion in pet gifts for the February holiday.
“Valentine’s Day underscores the value of relationships, and for many people, the connection they share with their pets is an important one,” Prosper Insights & Analytics executive vice president of Strategy Phil Rist said in a press release. “Whether it’s a dog, cat or other animal, consumers are looking to celebrate their pets this Valentine’s Day with a special toy, accessory or treat.”