U.S. Valentine's Day planned spending by category 2024

Valentine’s Day is widely considered to be one of the most romantic holidays of the year. According to a survey, consumers in the United States were expected to spend a total of nearly six and a half billion U.S. dollars on jewelry for this occasion in 2024. Consumer spending on romantic evenings out was also set to increase considerably compared to the previous year.

Valentine’s Day origins

Falling on February 14th every year, Valentine’s Day, also known as Saint Valentine’s Day, is recognized as a celebration of romantic love all around the world. The holiday originated as a Western Christian feast day honoring Saint Valentinus. Nowadays, around half of Americans celebrate Valentine’s Day.

Has inflation had an impact on romantic spending?

Unfortunately for some, it has. According to a survey conducted in early 2023, over 40 percent of American consumer said they planned to look for lower cost gifts for Valentine's Day as a result of rising prices. Only a handful of those surveyed said inflation has not impacted their Valentine's Day shopping plans.