A Valentine's Day that will cost $27.5 billion

Valentine's Day 2025 comes with a bit of a sour surprise, chocolate prices have increased significantly due to a crisis in cocoa production. This is the third year in a row in which harvests have been insufficient, driving up the cost, consequently, of chocolate products.

But, it's not just cocoa that has increased. In general, celebrating love with material gifts won't be cheap this year either. According to the National Retail Federation (NRF), total Valentine's Day spending will reach $27.5 billion, averaging $189 per person.

Spending categories

Although gifts traditionally are aimed at couples, many people also buy gifts for friends, co-workers and pets. Americans will spend roughly these amounts of money in various categories:

- 6.5 billion on jewelry.

- 5.4 billion on dinners and nights out.

- 2.9 billion on flowers (The cheapest place to give roses is California with an average bouquet value of $68.33. That's nearly 25% less than the national average and nearly $75 less than what it costs to buy the same amount of roses in Hawaii).

- 2.5 billion in candy.

- 1.4 billion in greeting cards.

Declining popularity

Despite the record spending, Valentine's Day's popularity has declined over time. In 2007, 63% of Americans celebrated the date, while this year only 56% are expected to do so. However, those who do celebrate spend more: in 2007 the average spent was $120, while in 2020 it peaked at $195 before stabilizing at the current average of $188.81.