Bud Biz Forecast for Valentine’s 2023

Bud Biz Forecast for Valentine’s 2023

Bud Biz Forecast for Valentine’s 2023 512 510 California Flower Mall

People are estimated to spend $25.9 billion on Valentine’s Day this year, up from $23.9 billion in 2022 the second-highest year on record. 37% are expected to buy flowers. (Source: National Retail Federation)

Around 73% of flowers are bought by men. Flowers are one of the main gifts given by men on Valentine’s Day. (Source: Spectrio). More than 60% of men and one-third of women said they would purchase flowers or plants for Valentine’s Day.

There are significant differences between how men and women buy for the occasion, according to “Valentine’s Day Shopping: Men Will Spend More, But Women Will Buy Early,” the latest Advantage Solutions Pulse Survey of more than 750 U.S. adults conducted in late January, men were planning to spend more money, in more ways, including buying champagne, wine, and flowers. But many men planned to wait until the last minute — with just a couple of days till Valentine’s Day. (Source: AdvantageSolutions)

Key Valentine’s Day Spending Statistics:

  • Consumers celebrating Valentine’s Day in 2023 are expected to spend an average of $192.80. They spent an average of $175.41 on Valentine’s Day in 2022. (NRF)
  • Consumers in 2023 expect to spend an average of $14 more than last year on pets, friends, coworkers, or their childrens’ classmates or teachers. (NRF)
  • Consumers ages 35 to 44 plan to spend an average of $335.71 in 2023 — the most of any age demographic. (NRF)