Americans will spend $24 billion on Valentine’s Day in 2022
Americans are spending more to show their love this Valentine’s Day. Across the US, people are expected to spend $23.9 billion on Valentine’s Day gifts this year, up from $21.8 billion in 2021, according to a survey from the National Retail Federation. Of course, inflation has something to do with that. This rise in valentines spending represents a 9.6% increase. US prices have risen 7.5% in the last year.
https://datawrapper.dwcdn.net/8vPL2/1/
Many people are largely sticking with the classics. More than half of those surveyed said they intended to buy chocolate, and 40% planned to buy greeting cards. But experiential gifts like theater or concert tickets are also gaining popularity as people return to activities that were stymied by pandemic restrictions last year.
Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.