Roses, chocolates, wine — consumers are expected to dish out a record $27.5 billion for Valentine's Day this year, the National Retail Federation (NRF) said.
That's according to the organization's annual survey that provides insights on holiday spending.
The number is up from last year’s $25.8 billion and slightly above the previous record of $27.4 billion set in 2020, NRF said.
One factor for the rise in total spending could be that more people are planning to celebrate the holiday this year compared to last year, the survey said.
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There's also a rise in people who plan to buy their friends a gift for Valentine's Day this year in addition to their loved ones.
Most people will put their money towards candy (56%) followed by flowers (40%), greeting cards (40%), an evening out (35%) and jewelry (22%), the survey found.
On average, shoppers will spend $188.81 on the holiday, the NRF said.
Even if they don't celebrate the holiday, 28% of people said they still plan to mark the occasion in some way, the survey found.
