This Valentine's Day, American consumers' preferences have changed!

The National Retail Federation ( NRF) estimates that more than half of U.S. consumers ( 53%) plan to celebrate and shop on Valentine’s Day this year .

NRF predicts that total U.S. consumer spending on Valentine's Day this year will reach $24 billion, an increase from $21.8 billion in 2021. According to NRF's historical data, this year's Valentine's Day spending forecast is also the second highest on record , only lower than $24.7 billion in 2020.

At the same time, a report from market research company Numerator also gave similar data: 52% of American consumers plan to buy Valentine's Day gifts for themselves or others this year , of which 48% plan to buy Valentine's Day gifts online .

At the same time, inflation will also have an impact on Valentine's Day consumption. Half of the respondents expect price increases to have a slight impact on their Valentine's Day shopping, and 24% of the respondents expect a significant impact. Therefore, in order to cope with rising prices, 43% of consumers plan to look for promotions and coupons, 32% of consumers plan to shop at different merchants, and 24% of consumers said they will reduce their purchases this year.

In terms of gift selection, 62% of consumers plan to buy candy on Valentine's Day in 2022, followed by greeting cards (59%), food (52%), flowers (28%), alcoholic beverages (23%), clothes (15%), spa products (11%) and jewelry (10%) .

Traditional Valentine’s Day gifts have continued to decline among consumers over the past few years . Electronics, accessories and jewelry have declined the most for two consecutive years, while alcohol and food gifts have increased in popularity.

Gen Z and Millennial consumers are changing Valentine’s Day shopping trends . Compared to older generations, they are 23% more likely to buy clothing and 15% more likely to buy spa products. On the other hand, younger generations are 17% less likely to buy Valentine’s Day cards than older generations.

NRF expects each shopper to spend an average of $175.41 on gifts, up from $164.76 in 2021. Younger generations are the most valuable Valentine's Day spenders. For example, millennials are more likely than other generations to spend more than $200 on Valentine's Day .

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