Confident Consumers and Broader Buying Lead to Record Valentine’s Day Spending Plans

Americans are expected to set another record for Valentine’s Day spending this year as they continue to widen the range of those they’re buying for, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.

“Valentine’s Day is a sentimental tradition, but gift-giving can be driven by the economy. Consumers spent freely during the 2019 winter holidays and they appear ready to do the same in the new year. Similar strong employment numbers and higher wages that boosted holiday sales should make it easier to spend a little extra to say ‘I love you’ this year and to spread the gift-giving beyond just your significant other,” NRF President and CEO Matthew Shay said.

Those celebrating the holiday said they plan to spend an average USD196.31, up 21% over last year’s previous record of USD161.96. Spending is expected to total USD27.4bn, up 32% from last year’s record USD20.7bn.

The unusually large increase in average spending appears to be due to strong consumer finances and a continued trend of consumers buying more gifts, cards, candy and flowers for friends, family, co-workers, and pets. The increase in total spending comes as the number of people celebrating Valentine’s Day returned to 55%, about average for the past decade, after a dip to 51% last year.

The biggest share of Valentine’s spending still goes to spouses and significant others at 52% of the total, or an average USD101.21 this year, up from USD93.24 in 2019. But their share of the spending is down from 61% a decade ago. The share spent on most other recipients has gone up over the past decade, with the amount spent on co-workers, for example, more than doubling to 7% of the total from 3%.

The survey of 7,267 adult consumers was conducted January 2-9 and has a margin of error of plus or minus 1.2 percentage points.

Baked goods producers launch a wide range of dedicated products this year and we selected just a few of them:

Heart-Shaped Bo-Berry Biscuits

Bojangles has introduced its Heart-Shaped Bo-Berry Biscuits, available through Sunday, February 16. Each Heart-Shaped Bo-Berry Biscuit is made from scratch by a Bojangles’ master biscuit maker, using the brand’s proprietary 48-step process. With Bo-Berries baked inside and a decadent vanilla icing drizzle, the sweet biscuit pairs well with a cup of Bo’Town Roasters™ coffee.

“As a North Carolina native, I know that the only thing that beats the taste of a warm and sweet Bo-Berry Biscuit is a warm and sweet Heart-Shaped Bo-Berry Biscuit, given to you by that special someone. I’m thrilled to be part of the culinary team at Bojangles’, just in time to join in on this unique Valentine’s tradition,” said Chef Scarborough, who is originally from Clemmons, North Carolina.

Dominique Ansel Reveals Heart-shaped Cakes 

Dominique Ansel, the creator of Cronut, presents its creations for Valentine’s Day. At Dominique Ansel Kitchen in New York City, customers can enjoy a pastry case filled with seven different heart-shaped cakes from February 12 to 14.

The cakes, which cost USD8 individually or USD54 for the seven-piece set, each come in a mini heart design. Among the flavors are:

  • Will You Accept This Rose? (red) – Creamy caramel mousse, a center of caramelized apples, and brown sugar financier cake, topped with a candied fresh rose petal (gluten-free);
  • My Angel (white) – Honey ganache, cream cheese mousse, and almond biscuit, topped with delicate white chocolate angel wings;
  • All Wrapped Up in Love (orange) – Brown sugar ganache, homemade orange marmalade, and almond biscuit, finished with a handmade white chocolate bow
  • Heart to Heart (purple) – Light-as-air chocolate mousse, lavender Chantilly cream, and a flourless chocolate biscuit, topped with a perfect pair of white chocolate hearts (gluten-free);
  • Berry in Love (pink) – Silky milk chocolate mousse, a layer of strawberry gelée, and almond biscuit, topped with a handmade white chocolate strawberry truffle filled with strawberry jam;
  • Cupid’s Arrow (green) – Creamy pistachio bavaroise, a layer of raspberry gelée, and crunchy Valrhona Caramelia (caramelized milk chocolate) feuilletine, finished with a white chocolate cupid’s arrow;
  • Hugs & Kisses (blue) – Hazelnut bavaroise, caramel cremeux, and crunchy hazelnut feuilletine, topped with a white chocolate XO.

Hummingbird Bakery’s Individual Day Cupcakes 

The Hummingbird Bakery has announced that Individual Valentine’s Day Cupcakes are available in-store until February 14. The whole Valentine’s range of goodies is available in their six London bakeries or delivery to the doors.

Among the assortments are:

  • Individual Valentine’s Cupcakes (in-store): Vanilla, chocolate, and Red Velvet.
  • Limited Edition Baileys Red Velvet Cupcake Deluxe

This decadent treat features our bestselling red velvet sponge with a cheesecake center, infused with Baileys Red Velvet Cupcake and a swirl of Baileys Red Velvet Cupcake frosting. Available until February 29 in-store and online.

  • Valentine’s Cupcake Selection Box (6 cupcakes): Vanilla, chocolate, and Red Velvet.
  • Made Without Gluten Valentine’s Cupcake Selection Box (6 cupcakes, not certified as gluten-free): Vanilla, chocolate, and Red Velvet. Made from gluten-free ingredients in kitchens that handle gluten.
  • Vegan Valentine’s Cupcake Selection Box (6 cupcakes): Vanilla, chocolate, and Red Velvet.
  • Valentine’s Red Velvet Heart Cake (6” cake): Heart-shaped Red Velvet sponge with cream cheese frosting covered in sprinkles.

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