For the 10th year in a row, jewelry is expected to be the top Valentine’s Day gift category by dollars spent, according to the latest consumer spending survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics. Shoppers are projected to spend $7 billion on jewelry for Valentine’s Day 2026 — accounting for nearly one-quarter of all holiday spending and outpacing every other gift category once again.
Overall, Valentine’s Day spending is expected to reach a record-breaking $29.1 billion, surpassing last year’s all-time high of $27.5 billion. On an individual level, consumers plan to spend an average of $199.78, up nearly 6% from the $188.81 reported in 2025 and higher than the previous record set in 2020.
“Valentine’s Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year,” said 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.”
More than half of consumers (55%) plan to celebrate Valentine’s Day this year. Among those participants, 83% will purchase gifts for a significant other, accounting for $14.5 billion. Gifts for family members, such as children, parents and siblings, are expected to total $4.5 billion, reflecting Valentine’s Day’s continued evolution beyond couples-focused celebrations.
That expansion shows up clearly in other categories. One-third (33%) of consumers plan to buy gifts for friends, contributing $2.4 billion in spending. Another 27% will shop for children’s classmates and teachers ($2.2 billion), while 21% plan to purchase gifts for co-workers ($1.7 billion).
Pets are also playing a growing role in Valentine’s Day spending. A record 35% of consumers plan to buy gifts for their pets this year, with spending projected to reach $2.1 billion, up from $1.7 billion in 2025.
While candy remains the most popular Valentine’s Day gift (56%), followed by greeting cards (41%), flowers (41%) and an evening out (39%), jewelry continues to dominate on a dollar basis. After jewelry’s $7 billion share, spending is expected to reach $6.3 billion on evenings out, $3.5 billion on clothing and $3.1 billion on flowers.
Online shopping remains the top destination (38%), followed by department stores (35%), discount stores (30%) and specialty retailers (21%). Even among those not celebrating Valentine’s Day by buying gifts for others, nearly one-third (31%) still plan to mark the occasion with self-care purchases or social gatherings.
The survey was conducted Jan. 2-8 among 7,791 U.S. adult consumers and carries a margin of error of plus or minus 1.1 percentage points.
Credits: Image by BigStockPhoto.com. Chart courtesy of the National Retail Federation.