2022 estimates on Valentine's Day spending are unveiling promising trends for suppliers and retailers across the nation. Even considering COVID-19's untimely effects on purchasing habits since 2020, the numbers seem to prove that, indeed, there is a light at the end of this pandemic-induced tunnel.
According to research from the Society of American Florists (SAF), the International Fresh Produce Association (IFPA), and the National Retail Federation's annual Valentine's Day Spending Survey, the numbers projected for Valentine’s Day will follow historic levels of consumer spending experienced over the recent winter holidays.
Here are the top 10 numbers to remember:
Americans are expected to set records in 2022 as Valentine's Day purchasing habits appear to return to their pre-pandemic levels. Total spending on gifts for the holiday is expected to reach $23.9 billion, up from $21.8 billion in 2021 and the second-highest year on record (well, since 2007, at least).
Consumers are expected to spend $2.3 billion on floral gifts in 2022, which is up from $2.0 billion in 2021. For additional reference, other gift categories surveyed include: jewelry ($6.2 billion), an evening out ($4.3 billion), clothing ($2.9 billion), gift cards ($2.3 billion), candy ($2.2 billion), and greeting cards ($1.0 billion). Average floral spend will also experience a notable jump from $15.42 in 2021 to $16.71 in 2022.
A majority of fresh cut flower sales for Valentine's Day involve roses (specifically red varieties). On average, over 250 million roses are produced for the holiday each year, with most being grown in Colombia and Ecuador. Of this amount, over 110 million stems are sold in the U.S.—with men making up 75 percent of the buyers.
On average, consumers are expected to spend $175.41 per person on Valentine's Day gifts in 2022, which is up from $164.76 in 2021.
On average, about 79 percent of all floral sales for the holiday involve fresh cut flowers; coming in second are flowering plants, and then bedding and garden plants.
For those celebrating, men are expected to account for 56 percent of all estimated floral purchases in 2022.
More than half (53 percent) of U.S. consumers plan to celebrate the holiday in 2022, which is up slightly from 52 percent in 2021. Over 76 percent of those celebrating indicate it is important to do so given the current state of the pandemic.
Candy (56 percent of planned spending), greeting cards (40 percent of planned spending) and flowers (37 percent of planned spending) remain the most popular Valentine's Day gift items for 2022.
According to data from the Society of American Florists (SAF), Valentine's Day is the single most important holiday for retail flower shops in the U.S., accounting for about 30 percent of all transactions and 28 percent of their dollar volume each year. The International Fresh Produce Association (IFPA) also notes similar numbers for supermarket flower sales during the same period.
On average, roughly 30 cargo jets fly from Colombia to Miami International Airport daily in the three weeks leading up to Valentine's Day. A similar amount fly out from Ecuador in this same time period.
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SOURCES
All 2022 spending estimates were referenced from NRF's Valentine's Day Spending Survey, conducted by Prosper Insights & Analytics.
Society of American Florists. “Valentine's Day Statistics on Flower Buying and Giving.” About Flowers, safnow.org/aboutflowers/holidays-occasions/valentines-day/valentines-day-floral-statistics/
National Retail Federation. “Valentine's Day Data Center.” NRF, Jan. 2022, nrf.com/insights/holiday-and-seasonal-trends/valentines-day/valentines-day-data-center
Valentine's Day 2022: Floral Forecast. International Fresh Produce Association. (2022, January 20). Retrieved February 7, 2022, from https://www.freshproduce.com/resources/floral/valentines-day-floral-forecast-2022/
