KANSAS CITY — Retailers and foodservice locations are once again falling head-over-heels for the latest seasonal innovations inspired by Valentine’s Day.
While limited-edition introductions in the late-winter to early-spring seasons are typically dominated by Easter holiday products, consumers are slowly but surely dedicating more and more of their dollars toward Valentine’s Day.
This year, Valentine’s Day spending is expected to reach $25.8 billion, roughly on par with last year’s spending, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
“Retailers are ready to help customers this Valentine’s Day with meaningful and memorable gifts,” said Matthew Shay, president and chief executive officer of the NRF. “With consumers prioritizing their spouse or significant other this year, retailers expect to see a shift in spending for certain gifting categories.”
In a survey conducted by the National Confectioners Association (NCA), 92% of those surveyed said they plan to share chocolate and candy with friends, family or loved ones throughout the first half of February, with 94% of respondents saying they would be excited to receive chocolate and candy for Valentine’s Day.
“Valentine’s Day is an opportunity for people across the country to make simple yet meaningful gestures by sharing chocolate and candy,” said John Downs, president and CEO of the NCA. “People see these treats as tokens of love and happiness, and gifting chocolate and candy is a sentimental tradition that brings a unique sweetness to this season.”
