A recent survey showed that retailers are going to get some love on Valentines Day according to reports The annual survey by the National Retail Federation NRF and Prosper Insights Analytics reports that Americans are going to spend a record amount of money on Valentines Day even though theres been a general decrease in how many people celebrate the holiday over the years People said they would spend an average of 16197 on the holiday which is up 13 percent from last years total of 14356 and also topples the high of 14684 from 2016 Total spending is estimated at about 207 billion 6 percent higher than last years 196 billion and also smashing the 2016 record of 197 billion Men again are predicted to be the biggest spenders at 22954 which is much higher than women said they would spend 9777 If you separate by age group people who are between the ages of 35 and 44 are predicted to spend the most at 27914 and people aged 25-34 will spend 23907 Even pets are expected to get in on the spending action as pet spending is predicted to reach 886 million As for the types of gifts celebrators said they plan to spend the most on jewelry at 39 billion followed by a date night at 35 billion clothing at 21 billion 19 billion on flowers 18 billion on candy 13 billion on gift cards and 933 million on greeting cards The spending is expected despite the surveys results showing that only about 51 percent of the population is planning to celebrate the holiday which is a decrease of 4 percent from last year and the high of 63 percent in 2007 The lowest spending recorded was during the Great Recession in 2009 at 10250 When it comes to where people plan to shop most said they would go to department stores followed by discount stores online specialty stores florists and small business or jewelry stores respectively The survey asked 7 384 adults aged 18 or older the questions between Jan 2 and Jan 9 LATEST INSIGHTS Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation thats reshaping the payments and commerce ecosystem Check out the February 2019 PYMNTS Financial Invisibles Report Consumer Spending ecommerce gifts News NRF Retail Retail sales shopping valentines day Whats Hot