Key takeaways

• Valentine’s Day spending is growing at roughly twice the pace of overall U.S. retail sales, and is set to reach $29.1B in 2026.
• Spending on gifts for romantic partners could top $14.5B, with billions more spent on family members, friends, pets, teachers, and coworkers.
• Across the five largest Valentine’s Day gift categories, prices are up 5.6% on average year-over-year, according to CPI data.

Cupid’s arrow is pointing consumers toward higher spending this Valentine’s Day. A survey from the National Retail Federation (NRF) forecasts $29.1 billion in holiday gift spending, a 6% increase from last year, as Americans shop for significant others, family, friends, pets, teachers, and even coworkers.¹

That growth rate is almost double the pace of overall U.S. retail sales, highlighting how consumers are prioritizing discretionary dollars toward occasion-driven spending.2

Who consumers are buying for

While romantic partners continue to account for the largest share of Valentine’s Day spending (83%), consumers are increasingly extending gift-giving to family members (58%), friends (33%), children’s classmates and teachers (27%), and coworkers (21%).³

What’s more, a record 35% of consumers plan to purchase Valentine’s Day gifts for their pets this year, totaling $2.1 billion, up from $1.7 billion in 2025.⁴ Whether it’s puppy love or feline affection, pet parents are celebrating by buying treats, toys, and accessories for their animals. This seasonal spike builds on a broader upward trend in pet-related spending: Empower Personal DashboardTM data shows consumers spent an average of $350 per month on pets and pet care in 2025, an 11.5% increase from 2024.

Higher prices add pressure to Valentine’s Day budgets

The National Retail Federation found that candy was the most popular Valentine’s gift.⁵ More than half, or 56%, of surveyed respondents plan to give candy, followed by flowers and greeting cards equally at 41%, an evening out at 39% and jewelry at 25%. Across the five largest Valentine’s Day gift categories, prices are up 5.6% on average year-over-year, according to the Consumer Price Index (CPI).⁶

Valentine’s Day gift categories: purchase intent vs. price changes

Note: CPI price changes reflect the latest data (December 2025 compared with December 2024). Greeting cards are captured under CPI stationery, stationery supplies, and gift wrap, while “an evening out” reflects CPI data for full-service meals and snacks.

On average, shoppers’ budgets for gifts are expected to jump to almost $200, an increase from $188.81 last year.⁷

A cultural shift in Valentine’s Day spending

Valentine’s Day is no longer defined solely by romantic relationships. Consumers are increasingly spreading spending across friends, family members, and themselves. Notably, nearly one-third of consumers who do not plan to celebrate Valentine’s Day still expect to mark the occasion in some way, according to the National Retail Federation — often through self-gifting, self-care, or social activities with friends and family.⁸

Cultural moments like Galentine’s Day continue to reinforce this shift, with Google Trends data showing searches for “Galentine’s Day” up 12% year over year as of early February, signaling growing interest in friendship-focused celebrations alongside traditional Valentine’s Day spending.⁹