This ad will be closed automatically in X seconds.

National Retail Federation predicts record Valentine’s Day

America’s National Retail Federation has predicted a record Valentine’s Day season in 2020, as consumers continue to broaden the range of people they buy cards and gifts for.

The annual survey, which canvassed the opinion of 7,267 consumers, has revealed that those celebrating the holiday plan to spend an average of $196.31, up 21% on last year. Total spending is expected to reach $27.4 billion, up 32% from last year’s record $20.7 billion.

The large increase in average spending appears to be partly due to a continued trend of consumers buying presents for friends, family, co-workers and pets as well as their significant other. The number of people celebrating Valentine’s Day is 55%, an increase of 4% on 2019.

Spouses and partners account for the biggest share of Valentine’s gift-giving (52%), but that is down from 61% a decade ago. The amount spent on co-workers and pets has doubled in the same period (7% and 6%, respectively). Almost a third (27%) of those surveyed intend to buy Valentine’s gifts for their pets, up from 17% in 2010.

“We’ve always heard of puppy love, but pets are definitely seeing a larger share of Valentine’s Day spending,” said Phil Rist, executive vice president of strategy for Prosper Insights.

“Husbands and wives don’t need to be worried if their spouses are buying a Valentine’s Day gift for someone else – most likely it’s greeting cards for their children’s class at school, flowers for a family member or maybe a treat for the family dog.”

Lead singer and frontman swapped his normal stage attire for a Comic Strip suit at the one-of-a-kind rally....
The latest episode of Balloon Market TV sees what trends were taking hold at Spring Fair 2020....
US party retail group continues its aim to make hospitals ‘less scary’ for children....
A child's NASA costume was tweeted by an Iranian minister as one of the country's own spacesuits....
Sales director Jason Knowles talks about helium shortages, price rises and the future....
The new HUB platform will give customers access to a wide range of additional services. ...
Get the latest news sent to your inbox
Subscribe to our daily newsletter