Overview
- The National Retail Federation projects total U.S. spending of $29.1 billion with a record average of $199.78 per person, surpassing last year’s high.
- Restaurants and retailers are running limited‑time offers, including heart‑shaped pizzas at Pizza Hut, Papa John’s and Papa Murphy’s, and prix‑fixe menus at California Pizza Kitchen ($60), P.F. Chang’s ($89.99) and TGI Friday’s ($50).
- Operational twists include Insomnia Cookies taking dine‑in reservations with a $30 prix‑fixe menu at select stores and Waffle House offering reservations at 200+ locations for a themed Valentine’s experience.
- Pet gifting is rising, with consumers expected to spend about $2.1 billion on animals, up from $1.7 billion last year, according to NRF and Prosper Insights.
- Costs for classic gifts have climbed sharply over the past decade, with an analysis cited by Quartz estimating a 51% overall increase, including a 236% jump in chocolate prices and restaurant dinners more than doubling.