Valentine's Day 2026 Records Luxury Spending as Friends, Pets Receive Gifts

Consumer spending on Valentine’s Day is projected to reach a record $29.1 billion, the National Retail Federation and Prosper Insights & Analytics reported, with shoppers planning to spend an average $199.78 on gifts. That average surpasses last year’s $188.81 and the previous high of $196.31 set in 2020, and the organizations say the total eclipses 2025’s $27.5 billion.

The forecast includes a breakdown of who receives those gifts: 55 percent of consumers plan to celebrate Valentine’s Day and, of those, 83 percent intend to purchase a gift for a significant other. NRF and Prosper estimate $14.5 billion will be spent on romantic partners, while 58 percent of celebrants plan to buy for other family members and roughly $4.5 billion is expected to go to gifts for kids, parents and siblings. Katherine Cullen, NRF vice president of industry and consumer insights, noted that much of the growth is driven by middle- and high-income shoppers expanding their lists to friends, co-workers and even pets.

What shoppers buy does not always line up with what absorbs the most dollars. Candy remains the most commonly purchased item, with 56 percent of consumers planning to buy it, while flowers and greeting cards each register at 41 percent and an evening out at 39 percent. Jewelry is planned by 25 percent of shoppers but is forecast to draw the largest share of spending at $7 billion. Other category totals named in the survey include $6.3 billion for evenings out, $3.5 billion for clothing and $3.1 billion for flowers.

The changing recipient list and appetite for higher-value items echo retail and industry analysis. Phil Rist, executive vice president of strategy at Prosper Insights & Analytics, said, “Whether it’s a dog, cat or other animal, consumers are looking to celebrate their pets this Valentine’s Day with a special toy, accessory or treat.” Retailers and advisers have seized on the moment; Robert Boniface, co-founder of Cate & Chloe, advised that the data “reinforces the value of planning early, setting a budget, and choosing items that feel personal without becoming complicated.”

Those dynamics have created room for both high-ticket statements and lower-priced “affordable luxury” gifts. W Magazine’s selections illustrate the range: a Tiffany & Co. HardWear Large Double Link Pendant in 18 karat yellow gold with pavé diamonds is listed at $15,400, Hermès Lucky Gloves at $1,575, a Louis Vuitton High Rise PM Bum Bag at $2,480, Chanel Square Sunglasses at $695 and Les Pinceaux Hermès custom complexion tools at $226. Mid-price options include Le Labo’s Cyprès 21 Indigo Candle at $97, Bulgari Allegra Baciami Eau de Parfum at $304 and Clé de Peau Beauté The Serum Lunar New Year edition at $318.

The survey’s distribution timeline varies across outlets, with some placing the NRF and Prosper release on Jan. 27 and others on Feb. 11, while the NRF dateline in the excerpt reads “WASHINGTON” without a visible calendar date. Methodological details such as sample size and fielding dates were not included in the excerpts provided with the forecasts, yet the headline numbers are clear: American shoppers are budgeting more for Valentine’s Day in 2026 and, as one observer put it, “the smartest gifters are thinking bigger.”