Despite the lingering shadow of “sticky” inflation and high interest rates, American consumers have proven that their hearts—and their wallets—remain open. Data released today, February 14, 2026, by the National Retail Federation (NRF) and Prosper Insights & Analytics, reveals that Valentine’s Day spending has reached a staggering $29.1 billion. This figure represents a new all-time high, comfortably surpassing the previous record of $27.5 billion set in 2025.
The 5.8% year-over-year increase signals a remarkable resilience in the consumer discretionary sector. Even as the cost of living remains a primary concern for many households, the desire to celebrate personal connections appears to be outweighing economic caution.
Breaking Down the $29 Billion “Love Economy”
This year’s record-breaking total is driven by an increase in both the number of people celebrating and the amount they are willing to spend. According to the NRF’s annual survey, 55% of U.S. households planned to celebrate the holiday, with the average shopper budgeting a record $199.78 on gifts and experiences—up from $188.81 last year.
While romantic partners still command the largest share of the budget—accounting for roughly $14.5 billion of the total—the modern Valentine’s Day has evolved into a much more inclusive event. Consumers are increasingly spending on family members, friends, co-workers, and even pets.
“Valentine’s Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year,” says Katherine Cullen, NRF Vice President of Industry and Consumer Insights. “Much of that growth is driven by middle- and high-income shoppers who are expanding their gift lists to include friends, co-workers, and even pets in addition to loved ones.”
Jewelry and Experiences Take the Lead
When it comes to where the money is going, jewelry remains the undisputed king of Valentine’s Day gifts. Spending on jewelry is expected to reach $7 billion this year, an 8% increase from 2025. This category continues to dominate on a dollar basis, even as consumers face higher price tags for gold and diamonds.
However, it isn’t just about tangible goods. The “experience economy” is also thriving, with $6.3 billion earmarked for an evening out, such as a restaurant dinner or a theater performance. This reflects a post-pandemic shift where consumers prioritize shared memories over physical objects.
Other top categories include:
Candy: $3.5 billion (the most popular gift by volume, with 56% of shoppers buying sweets)
Clothing: $3.5 billion
Flowers: $3.1 billion
Greeting Cards: $2.1 billion
Navigating the “Inflation Tax” on Romance
The record spending comes at a time when the “price of love” has never been higher. According to recent Consumer Price Index (CPI) data, prices across the five largest Valentine’s Day gift categories are up an average of 5.6% year-over-year.
Chocolate and candy have seen some of the sharpest increases due to rising global cocoa costs, with some brands seeing 10% price hikes. Similarly, the cost of an evening out has climbed by roughly 4.1% as restaurants struggle with higher labor and ingredient costs.
Phil Rist, Executive Vice President of Strategy at Prosper Insights & Analytics, notes that consumers are becoming more intentional with their spending to counteract these rising costs.
“Consumers are looking for value, but they aren’t willing to sacrifice the emotional connection that comes with the holiday. We’re seeing a shift toward ‘affordable luxury’—gifts that feel special but don’t necessarily break the bank.”
A Cultural Shift: The Rise of Self-Care and “Galentine’s”
Perhaps the most significant trend in the 2026 data is the continued growth of non-traditional celebrations. Nearly one-third of consumers who do not plan to celebrate a traditional Valentine’s Day still expect to mark the occasion in some way.
“Self-gifting” and self-care have become major drivers of retail traffic. Approximately 18% of respondents admitted to buying themselves flowers or spa services, reflecting a broader cultural shift toward mental wellness and “treat yourself” culture. Furthermore, “Galentine’s Day” (celebrating female friendships) continues to gain momentum, with spending on gifts for friends projected to hit $2.4 billion.
For investors and retailers, the Valentine’s Day data provides a much-needed jolt of optimism for the first quarter of 2026. The willingness of consumers to spend nearly $200 per person suggests that the “soft landing” for the U.S. economy might be more than just a theory.
As the retail sector shifts its focus toward the spring season, the “Valentine’s Day Resilience” serves as a powerful indicator that despite inflationary pressures, the American consumer is still willing to spend on what matters most to them.
Disclaimer: The content I provide is for informational and educational purposes only. While we strive for high technical and factual accuracy (using the year 2026 as our current timeline), the world moves fast. For critical business, financial, or personal decisions, you should always verify details with official sources or professionals.
