Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRF

A signet ring with a heart diamond in 14-karat yellow gold by Miraki Jewels. Consumers are expected to spend $7 billion on jewelry this Valentine’s Day.

Washington, D.C.—Valentine’s Day spending is forecasted to break records, with shoppers expected to spend the most on jewelry this year.

Consumer spending may reach a record $29.1 billion, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics.

The previous record was $27.5 billion, set last year.

On average, shoppers will spend $199.78 on gifts, up from $188.81 last year and breaking the previous record of $196.31 in 2020.

Candy is still the most popular Valentine’s Day gift, with 56 percent of shoppers planning to purchase candy, followed by flowers (41 percent), greeting cards (41 percent), and an evening out (39 percent).

Jewelry (25 percent) once again took the No. 5 spot, up from 22 percent last year, but remained No.1 in terms of dollars spent.

Shoppers are expected to spend the most on jewelry—$7 billion, up from $6.5 billion in 2025.

In the No. 2 spot was an evening out ($6.3 billion), followed by clothing ($3.5 billion), and flowers ($3.1 billion). 

“Valentine’s Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year,” said NRF Vice President of Industry and Consumer Insights Katherine Cullen. 

“Much of that growth is driven by middle- and high-income shoppers who are expanding their gift lists to include friends, co-workers, and even pets in addition to loved ones.”

More than half of consumers (55 percent) plan to celebrate Valentine’s Day this year.

Most of the revelers (83 percent) will be purchasing a gift for their significant other, with spending on gifts for romantic partners expected to reach $14.5 billion.

Of those celebrating, 58 percent plan to buy gifts for family, including their children, parents, and siblings, accounting for $4.5 billion in expected spending.

One-third of consumers will buy gifts for friends ($2.4 billion) and 27 percent will buy gifts for their children's classmates and teachers ($2.2 billion), while 21 percent will buy gifts for coworkers ($1.7 billion).

Pets will be feeling the love this year, too, with a record 35 percent of shoppers planning to buy a gift for their pets, totaling $2.1 billion, up from $1.7 billion last year.

“Valentine’s Day underscores the value of relationships, and for many people, the connection they share with their pets is an important one,” said Prosper Insights & Analytics Executive Vice President of Strategy Phil Rist. 

“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.”

As for where lovebirds are shopping, online remains the most popular choice (38 percent) followed by department stores (35 percent), discount stores (30 percent), and specialty stores (21 percent).

Of those who won’t be celebrating the holiday, around one-third (31 percent) will mark the day in some way, including splurging on a gift or self-care or planning something with friends and family members.

The survey includes responses from 7,791 adult consumers about their Valentine’s Day shopping plans and was conducted Jan. 2-8.