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Pandemic Cuts into Valentine’s Day Spending, Traditions

More than half (52%) of U.S. adults plan to celebrate Valentine’s Day this year, but they will be spending less than in 2020. And more will be staying home.

Those celebrating plan to spend an average $164.76, down $32 on average per person from last year, according to the annual report released by the National Retail Federation and Prosper Insights & Analytics. Total Valentine’s Day spending this year is expected to hit $21.8 billion, down from $27.4 billion last year.

While 73% of consumers celebrating Valentine’s Day this year feel it’s important to do so given the current state of the pandemic, 74% of them said COVID-19 will directly impact their plans for the holiday. The classic candy, cards and flowers remain popular, but there is a significant decline in the number of consumers who will plan for an evening out. Only 21% are planning an evening out, the lowest in the survey’s history. And 41% said they will plan an at-home special dinner or celebration at home.

This year, online is the most popular Valentine’s Day shopping destination, visited by 39%, followed by department stores (29%), discount stores (28%) and local small businesses and specialty stores tied (17%). This is the first time consumers listed small businesses as a top five shopping destination since the question was added to the survey in 2015.

- Digital Partner -

More proof of the pandemic’s impact on spending plans is the decrease in spending on teachers, classmates and co-workers as remote learning and working continues. Consumers plan to spend an average of $10.77 on their children’s classmates and teachers, down from $14.45 last year. Additionally, they plan to spend an average of $8.47 on colleagues, down from $12.96 in 2020…   CSA

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