Record $29.1B Valentine’s Spending Boosts 1-800-Flowers.com Outlook Despite 9.8% Share Drop
Americans plan to spend a record $29.1 billion this Valentine’s Day, up from $27.5 billion last year, with average budgets reaching $199.78 and $7 billion earmarked for jewelry. Online flower and gift orders are set to surge, underpinning 1-800-Flowers.com’s sales outlook despite a 9.8% share pullback.
1. Record Valentine’s Day Spending
Consumers are expected to shell out a record $29.1 billion this Valentine’s Day, exceeding last year’s $27.5 billion. The average budget per shopper has climbed to $199.78, driven by $7 billion in jewelry purchases and a rise in pet gift spending to $2.1 billion.
2. Online Flower Demand Surge
Online channels top the list of shopping destinations, ahead of department, discount and specialty stores. This shift benefits floral retailers, with flower order volumes forecast to surge alongside broader gift spending.
3. 1-800-Flowers.com Stock Reaction
Shares of 1-800-Flowers.com pulled back 9.8% on the day of the survey release. Despite the drop, the record-level spending forecast underpins a strong revenue outlook for the company’s Valentine’s Day segment.