40% of Americans do not expect their significant other to spend any money on Valentine's Day! Instead, they focus on the holiday as a day to show love, not on gift-giving!
When we were in elementary school, most of us have fond memories of receiving cards and candy on every February 14th. We would bring a decorated shoe-box to school, and by the end of the day, it would be filled with sweet notes from our classmates and lots of candy.
But how many of us knew then, or know now, the history of Valentine’s Day? Or how big Valentine’s Day business really is? Let’s explore.
A Muddled History of Valentine’s Day
The history of Valentine’s Day is shrouded in mystery – and some would say its origins are anything but romantic. But most historians agree that today’s holiday can trace its roots through both Christian and Roman history.
Many historians suggest that the ancient Romans are responsible for our modern Valentine’s Day because Emperor Claudius II executed two men, both of whom happened to be named Valentine, on February 14th of different years in the 3rd century.
Legend suggests that one of the Valentines, a priest, performed marriages in secret even though Claudius had outlawed marriage for young men because he decided that single men made better soldiers than those with wives. When Claudius discovered that Valentine was performing marriages, he was put to death. Other historians suggest that the Christian church may have decided to place St. Valentine’s feast day in the middle of February to “Christianize” the celebration of Lupercalia, which was a fertility festival, as well as a pagan one, dedicated to the Roman god of Agriculture, Faunus.
The Business of Valentine’s Day
No matter your historical perspective, no one can argue that in 1913, Valentine’s Day forever changed when a Kansas City-based firm named Hallmark Cards began mass-producing Valentine’s Day cards.
And today, Valentine’s Day is a huge business. In fact, according to the National Retail Federation:
- America’s sweethearts are expected to spend $29.1 billion on the holiday this year (that’s $199.78 per person celebrating).
- 55% of Americans plan to celebrate Valentine's Day 2026 with gift giving
- 35% of Americans will gift a pet this year
- Google searches for "Galentine's Day" are up 12% since 2025, highlighting a shift towards spending on friends
- Candy moves into the #1 spot with 56% planning a purchase, while jewelry drops into 5th with 25%
Valentine’s Day & Financial Planning
So, you’re probably wondering, “What does Valentine’s Day have to do with financial planning?”
Well, a financial advisor could suggest that the amount of money we spend each Valentine’s Day is reflective of the overall economy, much like Black Friday signifies the health of the upcoming shopping season. Or a financial advisor could suggest that the $29.1 billion is a big part of our consumer spending, which makes up 2/3 of our GDP.
But truthfully, Valentine’s Day really has nothing to do with financial planning at all.
Or maybe it does? What if you invested $199.78 each year for 10 years in an investment that tracked the S&P 500? Well, assuming a 12% return, and not including taxes, fees, and inflation, after 10 years, your yearly Valentine’s Day Contribution Fund would be worth over $4,500.
Happy Valentine’s Day!
Source: NRF's 2026 Valentine's Day Spending Survey, conducted by Prosper Insights and Analytics
"The History and Business of Valentine's Day." FMeX. 2023.
