Survey suggests Americans plan record spending this Valentine’s Day

The National Retail Federation estimates American consumers will spend $25.8 billion this Valentine’s Day, with a record $14.2 billion of that in gifts for significant others. The NRF’s annual survey showed over half of respondents are planning to give their romantic interest candy, with about 40 percent planning to give cards and flowers. Consumers are expected to spend a record-breaking $6.4 billion on jewelry gifts this year, along with nearly $5 billion on a night out. Over half of American consumers will spend money for Valentine’s Day, each spending an estimated $185.81 on average.

If only $14.2 billion is for Valentine’s gifts, what's the rest of the $25.8 billion being spent on? Valentine’s Day spending extends beyond gifts for a significant other and can include purchases for Valentine’s parties and non-romantic gifts for friends and family. The NRF survey noted that about 30 percent of people not celebrating are still planning to “treat themselves to something special.”

How much will people actually spend? Although the NRF survey touts a 1.1 percent margin of error, unforeseen circumstances may affect Valentine’s spending. Drivers for Uber and Lyft are reportedly planning to strike on Wednesday in response to “the significant decrease in pay we've all felt this winter.” The national coalition Justice for App Workers is also mounting a walk-out on Valentine’s Day and has scheduled rallies nationwide. The driver strike may influence Valentine’s Day spending, potentially canceling plans for couples dependent on a ride service for their evening getaway.