Valentine’s Day gifts have become more expensive: what is the average price?
14 February 12:03
The average spending on Valentine’s Day gifts in the US will reach $199.78 per person, the highest figure in the history of observations.
This is according to an annual study by the National Retail Federation (NRF) and Prosper Insights & Analytics, as reported by "Komersant Ukrainian".
They will spend $29.1 billion
It is noted that compared to last year, when the average budget was $188.81, Americans’ spending has increased by more than $10. The previous record — $196.31 — was set in 2020.
Analysts note that the increase in the average check in the US indicates an expansion of holiday budgets, despite economic uncertainty. Total spending in the US on Valentine’s Day will also set a record — $29.1 billion versus $27.5 billion a year earlier.
According to the study, 55% of Americans plan to celebrate Valentine’s Day. Most of them will buy gifts not only for their partners.
83% of those who celebrate will buy a gift for their significant other, spending a total of $14.5 billion. Another 58% plan to buy gifts for family members — children, parents, or siblings. The expected amount of spending in this category is $4.5 billion.
In addition, 33% of respondents will buy gifts for friends ($2.4 billion), 27% for their children’s classmates and teachers ($2.2 billion), and 21% for colleagues at work ($1.7 billion).
A separate trend is spending on pets. A record 35% of Americans surveyed plan to buy gifts for their animals. Total spending in this category will reach $2.1 billion, compared to $1.7 billion last year.
What to buy
Sweets remain the most popular gift in the US, with 56% of consumers planning to buy them. Other leaders include flowers and greeting cards (41% each), a festive dinner or a trip to a restaurant (39%), and jewelry (25%).
At the same time, the largest amount of money is traditionally spent on jewelry — $7 billion. Next in terms of spending are festive outings ($6.3 billion), clothing ($3.5 billion), and flowers ($3.1 billion).
Online shopping remains the most popular place to shop, with 38% of Americans choosing online stores. This is followed by department stores (35%), discount stores (30%), and specialty stores (21%).
Analysts conclude that the record average check shows that consumers are spending more and more on emotional purchases and symbolic gestures, and retail is experiencing one of its strongest seasonal impulses at the beginning of the year.
