Valentine’s Day 2020: Sharing the Love in Record Numbers
According to 2020 Valentine’s Day statistics, consumers are spending more than ever before. This year, as people are hunkered down at home, the spending trend should only increase — particularly when it comes to flowers! After all, celebrating love is more important right now than ever. What follows are few key takeaways from 2020’s Valentine’s Day spending reports; keep them in mind when you prepare for your Valentine’s Day sales.
- Americans spent $27.4 billion on Valentine’s Day 2020.
This amount was significantly greater than past years: 32.4% more than in 2019, with 20.7 billion spent. In 2018 and 2017, spending was $19.6 billion and $18.2 billion, respectively. Even after such a huge jump from 2019 to 2020, sales are likely to increase again in 2021.
- In 2020, Valentine’s Day average spending increased by 21.2%.
The average spending of 196.31 per person was a record high, and shows no signs of slowing down. The average amount spent has been rising consistently: $136.57 in 2017; $143.56 in 2018; and $161.96 in 2019. That means that between 2017 and 2020, the amount spent per person increased by an impressive 43.74%.
- Red roses continue to be the most popular Valentine’s Day flowers.
It should come as no surprise that roses remain the flower of choice for Valentine’s Day. In 2019, 85% of all flowers purchased were roses, and 69% of those were red roses. Other popular options included mixed flowers (45%) and plants (29%).
- Consumers spent the most on jewelry, flowers, and dining out.
In 2020, shoppers spent $5.8 billion on jewelry, the most popular gift for 21% of consumers. $4.3 billion was spent on dining out — but this may dramatically change in 2021 due to so many COVID restrictions. Last year, 37% of Valentine’s Day shoppers purchased flowers ($2.3 billion) up from 28% in 2019. Other popular spending categories were candy (57% of shoppers spent $2.4 billion), clothing ($2.9 billion), gift cards ($2 billion) and greeting cards ($1.3 billion).
2020 Valentine’s Day Statistics:
Total amount spent on Valentine’s Day in the US: $27.4 billion
Average amount spent per person: $196.31
Average spent by men: $291.15
Average spent by women: $106.22
Amount spent per person on gifts for spouse/partners: $101.21
Total amount spent on flowers for Valentine’s Day: $2.3 billion
As we’ve mentioned in past years, consumers are no longer limiting their Valentine’s Day gifting to a spouse or romantic partner. The holiday has come to mean so much more, as people share their love with family, friends, even pets. And while the sales results for 2020 were impressive, they’re only the beginning. Take advantage of this huge opportunity to help more people than ever share give the gift of flowers this year!