What Does the Average American Spend on Valentine’s Day?
Valentine’s Day currently ranks among the busiest shopping days of the year in the United States, and recent numbers show that consumers are spending more on it year after year.
Clearly, it’s one opportunity brand owners should not miss out on to boost sales and grow their businesses. To understand the event’s potential for revenue growth, we need to answer the question: What does the average American spend on Valentine’s Day?
Valentine’s Day spending 2023
According to recent data, the average amount spent per person on Valentine's Day in 2023 was $192.80. It marked a 9.9% annual increase and brought total Valentine’s Day spending to $25.9 billion.
Of the average total spend on Valentine’s Day in 2023, $100.25 was on consumers’ partners. This equates to around 52% of the overall expenditure per person. Gifts for other family members such as children and parents formed the second-largest Valentine’s Day expenditure, with $30.51. Presents for friends are ranked next, with $15.32, followed by gifts for children’s classmates and/or teachers and pets, with $14.15 and $12.80, respectively.
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Just like in previous years, the internet remained the top shopping destination for consumers celebrating Valentine’s Day in 2023. As many as 35% of buyers spent money online to mark the occasion.
Annual average spend on Valentine's Day: 2014–2023
The average spend on Valentine’s Day per person has generally been increasing over the past decade, even as the percentage of people celebrating fell from 60% in 2013 to 52% in 2023. Aside from a slight dip in 2017 and another fall in 2021, the latter of which was a result of the COVID-19 pandemic, consumers have increased their Valentine’s Day expenditure year after year.
In 2014, the average consumer spent $133.91—$58.89 less than they did in 2023. In other words, the average amount of money spent per person on celebrating Valentine’s Day has increased by 44% in less than a decade.
From 2013 to 2023, the highest spend per person was registered in 2020, right before the pandemic hit the US. That year, the average buyer spent $196.31 on Valentine’s Day.
The numbers also show that, historically, consumers spent the most amount of money on their significant others. Between 2014 and 2023, at least 87% of consumers’ Valentine’s Day expenditures were on their partners.