More than half (53 per cent) of US consumers plan to celebrate the holiday in 2022, up from 52 per cent in 2021. More than three-quarters (76 per cent) of those celebrating indicate it is important to do so given the current state of the pandemic, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics.

Shoppers expect to spend an average of $175.41 per person on Valentine’s Day gifts, up from $164.76 in 2021, as per the survey The increase comes as many intend to spend more on significant others or spouses.

“Following the historic level of consumer spending over the winter holidays, it appears that the trend will continue into 2022,” NRF president and CEO Matthew Shay said. “Valentine’s Day is a special occasion for many Americans, even more so as we navigate out of the pandemic, and retailers are prepared to help them mark the holiday in a memorable and meaningful way.”

The survey of 7,728 US adult consumers was conducted January 3-11 and has a margin of error of plus or minus 1.1 percentage points.

Fibre2Fashion News Desk (KD)