InvestingCongress
  • Investing
  • Business
  • Stock
  • Politics
Business

Valentine’s Day spending on significant others is expected to hit a record $14.2 billion this year

by January 30, 2024
January 30, 2024

If you’re one of the millions of consumers joyfully sharing your life with someone right now, the National Retail Federation thinks you’re really going to show it this Valentine’s Day.

The organization projects total spending on significant others is set to reach a record  $14.2 billion this year.

And while inflation has affected a host of categories across the economy in recent years, the projected higher spending is not necessarily the result of higher prices.

Instead, American consumers are reprioritizing how they are spending, and who they are spending on.

In years past, shoppers may have also purchased Valentine’s Day gifts to commemorate platonic relationships with their children’s teachers or close friends, they are less likely to do that this time around, according to the National Retail Federation.

‘People are normalizing their Valentine’s spending when it comes to what they purchase for non-romantic relationships in their lives,’ said Katherine Cullen, NRF vice president for industry and consumer insights. ‘They’re getting back to the true purpose of celebrating romantic relationships.’

Where are people planning to open their pocketbooks most for Valentine’s 2024? The NRF expects record spending for jewelry, flowers, clothing and an evening out.

Cullen said many consumers are still feeling comfortable financially as the rate of inflation has eased and unemployment remains low.

Still, they are ultimately going to be somewhat more choosy than in the immediate post-pandemic period as they ‘rotate their wallets’ toward more important areas of their lives.

‘The focus is now on significant others,’ Cullen said.

This post appeared first on NBC NEWS
previous post
Will Catalysts Push Markets HIGHER or Drag Them LOWER?
next post
Roomba-maker iRobot announces it’s laying off 31% of employees after Amazon deal falls through

You may also like

Jerome Powell asks inspector general to review Fed’s...

July 15, 2025

Some Walmart garment orders from Bangladesh on hold...

July 13, 2025

Trump’s tariffs on Brazil could make your coffee...

July 11, 2025

Italian chocolate giant Ferrero to buy Kellogg’s Froot...

July 10, 2025

White House accuses Powell of mismanaging Federal Reserve,...

July 10, 2025

Sports executive charged with bid-rigging in Texas arena...

July 10, 2025

OpenAI to release web browser in challenge to...

July 10, 2025

Amazon extends Prime Day discounts to 4 days...

July 9, 2025

Boeing delivers most airplanes since late 2023 after...

July 9, 2025

Waymo offers teen accounts for driverless rides

July 8, 2025
Join The Exclusive Subscription Today And Get Premium Articles For Free

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent Posts

    • Surface Metals

      July 15, 2025
    • Michael Kott Acquires Common Shares of Pinnacle Silver and Gold Corp.

      July 15, 2025
    • Almonty Shares Rise on Nasdaq Debut Amid US Push to Secure Tungsten Supply

      July 15, 2025
    • IBN Announces Latest Episode of The MiningNewsWire Podcast featuring Kimberly Ann, CEO of Lahontan Gold Corp.

      July 15, 2025
    • Skyharbour’s Partner Company UraEx Resources Commences Summer 2025 Drilling Program at South Dufferin Uranium Project, Athabasca Basin, Saskatchewan

      July 15, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 investingcongress.com | All Rights Reserved

    InvestingCongress
    • Investing
    • Business
    • Stock
    • Politics