Valentine’s Day Spending to Hit $29.1B, Jewelry Sales Seen at $7B
Valentine’s Day spending is projected to reach a record $29.1 billion, with the average shopper allocating $199.78 for gifts. Jewelry is set to command $7 billion of total spending, likely benefiting specialty retailers like Signet Jewelers.
1. Record Valentine’s Day Spending
Americans are expected to spend a record $29.1 billion on Valentine’s Day gifts, raising the average budget to $199.78 per shopper, up from $188.81 last year.
2. Jewelry Segment Dominates Spending
Jewelry spending is projected to represent the largest category at $7 billion, positioning specialty outlets like Signet Jewelers for robust holiday-quarter revenue gains.
3. Consumer Trends and Omnichannel Impact
Broader gift lists that now include friends, family and pets, along with strong online purchase growth, underpin accelerated demand during the holiday and reinforce Signet’s omnichannel presence.