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.

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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.

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