Holidays and Celebrations

Surveys: Consumer spending focused on experiences this Valentine's Day

Instead of spending money on gifts and flowers, more consumers are starting to spend on things like concerts or sporting events instead.

A bouquet of roses are displayed on sale.
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How much are you spending this Valentine's Day?

A survey by the National Retail Federation found about 52% of consumers plan to celebrate and will spend an average of $192.80.

"Total spending is expected to reach $25.9 billion, which is higher than last year's $23.9 billion," said Katherine Cullen, the senior director of industry and consumer insights at the National Retail Federation.

While the top gifts include candy, flowers and greeting cards, experiences are growing as a popular gift option, too. 32% of consumers plan to give an experience. This is an all-time high in the survey's history.

"Things like tickets to a concert or a sporting event or a spa experience for your loved one," Cullen said.

It's not just your loved one. A third of consumers also plan on buying gifts for their pets.

"They're looking to splurge not just on loved ones and significant others but also all those other relationships in their lives," Cullen said. 

This includes co-workers and teachers.

Another survey by RetailMeNot found Americans plan on spending an average of $80 per person on Valentine's Day items.

Why is the heart the symbol of love?
Why is the heart the symbol of love?

Why is the heart the symbol of love?

The modern heart shape used to symbolize love doesn't resemble the shape of a human heart, but it dates back to illustrations in ancient times.

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