US shoppers will buy $6.5 billion worth of jewelry for Valentine’s Day, setting a new record for the segment, according to the National Retail Federation (NRF).
That will make it the biggest category for consumer spending by value, ahead of an evening out, flowers, candy and greeting cards, the NRF said Thursday. That figure is 2% higher than the $6.4 million consumers were set to spend on jewelry for the holiday a year ago.
Overall outlay on gifts for loved ones will come to $27.5 billion, the NRF forecast — up 7% from the $25.8 billion estimate it released before Valentine’s Day last year, and the highest figure since the NRF and Prosper Insights & Analytics began conducting their annual survey in 2004. The last record for spending was in 2020.
“Whether they are celebrating a significant other or someone else in their lives, Valentine’s Day is meaningful for many people,” said Katherine Cullen, NRF vice president of industry and consumer insights. “Consumers are looking for special ways to treat their loved ones and can expect retailers to provide the best gift options and deals.”
More than half of US consumers said they would celebrate the holiday in 2025, the NRF noted. Of those looking to spend, the average consumer will lay out $189, up 2% from last year and on par with 2020’s pre-pandemic level. The rise is the result of increased spending on significant others, which will reach a record $14.6 billion, up 3% year on year. Total outlay on gifts for family members is set to grow 7% to $4.3 billion.
One third of consumers also plan to purchase gifts for friends, representing a 28% jump from 2024 and the highest number in the survey’s history, the NRF said. Some 19% will pick up gifts for coworkers, a 16% increase from a year earlier, while 32% will get something for their pets. This year, men are more likely to celebrate than in previous years, with 55% saying they plan to participate, compared to 51% a year ago.
Popular choices for gift givers included candy, which 56% of respondents chose, while flowers and greeting cards each attracted a 40% share. More than a third said they would spend on an evening out, while some 22% opted for jewelry as their number-one purchase for a loved one.
The survey found that 38% of all shoppers were set to make their purchases online, while 34% aimed to buy from department stores, 29% from discount shops, and 18% at both florists and specialty shops.
“Consumers plan to celebrate Valentine’s Day through a variety of ways to show appreciation and love for the many different people around them,” said Phil Rist, executive vice president of strategy. “Purchasing gifts for those outside of significant others or family members continues to rise in popularity and reflects consumers’ growing interest in celebrating all the meaningful relationships in their lives.”
Image: A man giving a woman jewelry on Valentine’s Day. (Shutterstock)
