Valentine’s Day spending reached a record $29.1 billion in 2026, according to the National Retail Federation (NRF), surpassing their projected spending estimate of $27.7 billion.

Although spending significantly increased, only 55% of American consumers participated in the holiday – budgeting around $199.78 on average for gifts. The top spending categories during the holiday were candy, flowers, and jewelry. Nearly every one of these Valentine’s Day products have gotten significantly more expensive in recent years. 

According to NRF’s 2026 Valentine’s Day Spending Survey conducted by Prosper Insights & Analytics, candy is the most popular expense for the holiday with 56% of consumers purchasing it. Flowers followed with 41%, dining out with 39%, and jewelry with 29%. 

A recent LendingTree report found that prices for 32 of the most popular chocolate brands and various jewelry items increased from last year. Jewelry rose the most (increasing 8.3%), followed by chocolate (up 6.8%), and flowers (rising 6.4%), according to consumer price index data. Additionally, the cost of dining out also increased by 3.7%. 

Price increases on Valentine’s Day aren’t new and continue to affect consumers, largely due to inflation. Prior to 2026, Valentine’s Day hit record high spending in 2025. According to Capital One statistics, this amounted to $27.5 billion in consumer spending – up 1.61% from 2024. Likely driven by the pandemic and increased online shopping, the previous record high was set in 2020, at $27.4 billion.

In 2026, 38% of shopping was done online, followed by 35% of shopping done at department stores, 30% at discount stores, and 21% at specialty stores.