While Americans celebrated Valentine’s Day 2019 less, they still managed to spend more money on the holiday. Only 51% of Americans acknowledged Valentine’s Day with some sort of plan to spend time with their significant other.
In 2019, spending levels rose to an average of $162. The National Retail Federation and Prosper Insights & Analytics say Americans spent $19.6 billion celebrating Valentine’s Day this year. Spending is up 13% from last year’s average of $143.56. Men spend more money than women on Valentine’s Day, with an average of $229.54. This number is a 20% increase over last year’s average spending for men.
Part of the increase in overall spending is due to the spread of Valentine’s Day celebrations to include children, family members, coworkers, and friends. It also could be a reflection of the state of current economic conditions in the United States.
Survey participants said they planned to spend an average of $29.87 on other family members, $9.78 on friends, $7.78 on coworkers, $8.63 on their kids’ classmates and teachers, and $6.94 on pets.
Jewelry was the gift of choice for 18% of survey respondents. 34% spend their Valentine’s Day budgets on a night out on the town. 18% bought clothing as gifts, and 35% spent money on flowers. 40% said they would prefer to receive an experience like tickets to an event, but only 25% said they planned to give that gift to their significant other.
