American consumers set to spend 24 billion dollars on Valentine’s Day

American consumers are set to spend close to 24 billion dollars on Valentine’s Day gifts this year, a 9.6 percent increase from last year, according to the National Retail Federation.

Following the historic level of consumer spending over the winter holidays, it appears the trend will continue into 2022,” NRF President and CEO Matthew Shay said. “Valentine’s Day is a special occasion for many Americans, even more so as we navigate out of the pandemic, and retailers are prepared to help them mark the holiday in a memorable and meaningful way.”