NEW YORK, NEW YORK - FEBRUARY 14: Valentine's Day balloons and flowers are sold outside a convenience store on February 14, 2021 in New York City. (Photo by Cindy Ord/Getty Images)
NEW YORK CITY - Valentine's Day spending is expected to reach record highs this year, and New Yorkers typically shell out the biggest bucks!
By the numbers:
New York City consistently ranks as the No. 1 city for Valentine's Day spending in the U.S. thanks to its high cost of living, high retail density and romantic image.
In 2023, New Yorkers spent an average of $250 or more per person on dining, jewelry, flowers and travel.
Prix-fixe Valentine’s menus in Manhattan often range from $175 to $350 per person — excluding drinks! Other cities top out closer to $100.
Want to bring flowers on your dinner date? Expect to add more than $100 for a dozen roses. Traveling to NYC for a romantic getaway? A hotel room can cost upwards of $450 during Valentine's Weekend — a 30% price surge!
Even a typically cheap movie date gets expensive in the city: $60 for two tickets, popcorn and drinks.
Big picture view:
Valentine's Day in New York City is well above the national average, which experts say will break records this year at $29.1 billion, surpassing last year's record of $27.5 billion.
Americans are budgeting a record $199.78 on average for gifts, an increase from $188.81 last year and surpassing the previous record of $196.31 set in 2020.
"Much of that growth is driven by middle- and high-income shoppers who are expanding their gift lists to include friends, co-workers and even pets in addition to loved ones," said NRF Vice President of Industry and Consumer Insights Katherine Cullen.
The Source: Information from his article was provided by the National Retail Federation and local pricing analysis.