By Brittney Sherman
According to the National Retail Federation (NRF), consumers are predicted to spend $25.9 billion on Valentine’s Day gifts this year, a $2 billion spending increase from 2022 holiday sales. An annual survey of buying intentions found that 52% of respondents were planning to spend an average of $192.80 on gifts, not just for their immediate family and partners, but for all the special relationships in their lives including pets, classmates, co-workers, and more. Top spenders this year will be found in the 34-44 age group and top gifts will include candy, flowers, jewelry, gift cards, a night out, and unique experiences. 2023 Valentine’s Day sales receipts are projected to result in one of the highest spending years for the holiday in history!
Have questions? Contact City of Morgan Hill Economic Development Director Matt Mahood at Matt.Mahood@morganhill.ca.gov