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Whole Lotta Love! Valentine’s Day Giving

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Wondering what Valentine’s Day giving looks like across the U.S.? Americans spent $27.4 billion on Valentine’s Day in 2020. The average amount spent was $196.31 per person which was a record-high amount. Between 2017 and 2020, the amount spent per person for the holiday increased by an impressive 43.74%. It’s always a loving gesture to give a Valentine’s gift. Check out some inspiring ideas in our local Gift Guides!

THAT’S AMORE

In 2020, 52% of the Valentine’s Day giving budget went to spouses and partners. US shoppers also spent money on family members, friends, and children’s classmates on Valentine’s Day. A respective 15%, 7%, and 7% of their total expenditures went to such spending.

FUR BABY LOVE

Over one-fourth of Americans buy gifts for their pets. In 2020, 27% of US shoppers said they would buy a Valentine’s Day present for their pet. In 2010, this share was only 17%. The total Valentine’s Day sales of pet gifts in 2020 hit a record-high $1.7 billion.

LOVE IS A MANY SPENDING THING

American consumers spend the most money on jewelry and dining out. In 2020, shoppers spent about $5.8 billion on jewelry, which was the gift of choice for 21% of consumers. Over one-third of those who celebrated Valentine’s went for dining out, and they spent a total of $4.3 billion on it. About $2 billion was spent on gift cards and $1.3 billion on greeting cards.

A ROSE IS A ROSE

Americans spent $2.3 billion on flowers and plants in 2020 for Valentine’s Day. Roses remain the most popular pick. Red roses rule the category as 69% of all roses bought were this color. Other popular options include mixed flowers and plants.

SWEET AS SUGAR

More than half of consumers who celebrate Valentine’s Day purchase candy. According to consumer surveys, Americans who celebrate purchase about 58 million pounds of chocolate a year. For those wondering how many boxes of chocolate are sold on Valentine’s Day; approximately
36 million heart-shaped boxes of chocolate are sold for the holiday.

WATCH YOUR WALLET, SIR!

Men spend more money on Valentine’s Day compared to women. According to the 2020 Valentine’s Day trends and stats, American men spent a total of $26 billion on gifts and activities. That’s 8.90% more than the $24 billion spent by women. Gifts cost male shoppers $11.44 billion, while female consumers spent $7.80 billion on presents.

Source: www.balancingeverything.com

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