Even the most cynical among us need at least one person (or pet) to love. Because "all you need is love," The Beatles remind us.
It follows that Valentine's Day 2026 is on track to break spending records, according to the National Retail Federation, which surveyed nearly 8,000 adults about their Valentine's Day spending plans. The survey revealed that consumers will spend a total of $29.1 billion honoring loved ones this year. Individuals are expected to budget an average of $200 for Valentine's Day gifts and plans — a figure that in reality could be much higher, thanks to inflation.
"Valentine's Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year," NRF Vice President of Industry and Consumer Insights Katherine Cullen said in a press release. "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."
Candy is the most popular Valentine's Day gift, according to the NRF, followed by greeting cards, flowers, date nights and jewelry.
Such Valentine's Day gestures will cost an average of 51% more this year than they did a decade ago, according to InvestorsObserver. A romantic dinner party in 2016 cost an average of $512, the publication reports. That same event will cost $774 in 2026. A box of chocolates is 236% more expensive than a decade ago; dinner for two is 160% more expensive; a bottle of champagne costs 127% more; a dozen roses is 66% more; diamond earrings are 36% pricier; and greeting cards are 31% more expensive in 2026 than they were in 2016.
And once valuable purchases and pricey activities enter the conversation, insurance does, too.
"Cupid's arrow isn't the only thing that should be insured this Valentine's Day," Brian O'Connell writes in a Valentine's Day insurance guide posted to insurancequotes.com. "Rings, new vehicles, and bright red roses can and should be covered, too… After all, love may be blind, but insurance isn't."
The slideshow above highlights the most common types of insurance claims to arise from Valentine's Day.
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