Is Valentine's Day a commercial holiday? How the day of romance increased consumer spending (2024)

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Valentine's Day origins: From Cupid to Chaucer

Fox News spoke to expert Nikki Lewis who deals with love year-round to learn more about the heart-filled holiday. Lewis is co-founder of BEVY, a bespoke matchmaking service located in New York and California, and explained that while the theories surrounding Valentine’s Day are murky, the stories behind them help contribute to the Feb. 14 holiday that we celebrate today.

Every year for Valentine's Day, lovers around the world pull out all the stops for their sweethearts.

From traditional flowers or chocolate to more expensive gifts such as diamonds, the holiday is just as much about spending hard-earned cash as it is about love.

"Valentine’s Day is returning to its romantic traditions, with total spending on significant others for the holiday expected to reach a record $14.2 billion in 2024," according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.

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Valentine's Day consumer spending this year is projected to surpass the holiday's second-highest historical expenditure, reaching a record-breaking $25.8 billion, according to data from the National Retail Federation (NRF).

This anticipated increase by $1.9 billion over the spending of $23.9 billion in a recent prior year marks a significant upswing in Valentine's Day consumerism.

So, if you’re feeling the pressure to get your significant other the perfect gift for V-Day, it’s likely because the commercialization of the holiday is by capitalist design.

Is Valentine's Day a commercial holiday? How the day of romance increased consumer spending (2)

Red roses are often given to loved ones on Valentine's Day. (Christopher Furlong/Getty Images)

Is Valentine's Day materialistic?

Whether one perceives Valentine's Day as materialistic depends on personal beliefs and values.

Some may choose to celebrate the day with meaningful, non-material gestures, while others may embrace the tradition of exchanging gifts as a way to express love. The key lies in striking a balance between material expressions and the emotional essence of the celebration.

The economic aspects surrounding holidays like Valentine's Day draw the focus away from human relationships, possibly weakening other forms of social interaction, according to Forbes.

So, while Valentine’s Day may be a traditional holiday of romance, there’s nothing accidental about its tendency to hit your pockets.

What are the origins of Valentine's Day?

There is much speculation and mystery over the true identity of St. Valentine and the holiday's exact origins, but it appears to be a combination of Christian and some pagan traditions.

The Roman Catholic Church recognizes different Christian martyrs who were executed while trying to practice their faith or helping persecuted prisoners.

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In one legend, Valentine acts as a priest in ancient Rome, performing marriage in secret for young lovers after Emperor Claudius II barred young men from marrying in the city so that they would stay in his army, according to History.com.

After Valentine's actions were discovered, he was sentenced to death and beheaded by the emperor.

Another legend suggests that Valentine was imprisoned for his beliefs and sent a letter to a young girl signed "from your Valentine," inspiring the tradition of sending love notes on this day, notes History.com.

While the exact details behind the identity of the individual are mysterious and lack concrete historical records, most stories concerning the holiday's namesake seek to portray him as a romantic and heroic figure during the Christian persecution by the Romans.

Is Valentine's Day a commercial holiday? How the day of romance increased consumer spending (3)

Valentine's Day has evolved into a celebration of love and affection marked by the exchange of cards, flowers and tokens of affection. (Justin Sullivan/Getty Images)

Why do we celebrate Valentine's Day?

The association of Valentine's Day with romantic love can be traced back to the Middle Ages when the notion of courtly love flourished. Over time, the day evolved into a celebration of love and affection marked by the exchange of cards, flowers and tokens of affection.

Today, it is a widely celebrated and commercialized occasion for expressing love and appreciation.

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The modern Valentine's Day became more popular in Great Britain during the 17th century, with the tradition of written letters to emphasize an individual's affection for a lover. The printing technology that emerged at the dawn of the 20th century helped to popularize its influence across the English-speaking world.

However, the origins of how Valentine’s Day became a major commercial holiday apparentlycan be traced to the United States.

While the practice of gifting your Valentine greeting cards was a centuries-long tradition in England, where the holiday was birthed, it was not untilValentine’s Day was "rejuvenated" stateside in the mid-19th century that it saw its commercial boom,according to theLibrary of Congress.

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At first, the Old World celebration was "often forgotten" and "easily neglected" by those in the U.S. Things took a turn in the 1840s when the holiday was transformed into something "not-to-be-missed," author Leigh Eric Schmidt wrotein the 1995 book, "Consumer Rites:The Buying & Selling of American Holidays."

Merchants outside the card industry,such as jewelers, florists and confectioners,eventually joined the bandwagon.

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Valentine’s Day may be a traditional holiday about romance, but there’s nothing accidental about its tendency to hit your pockets. (iStock)

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"When merchants rediscovered the [holiday], the former transformed the latter, not vice versa, as merchants systematically extended the apparatus of the market into the realm of celebration,"Schmidt wrote.

However, while companies did notcreate the holiday and some of its traditions, they certainly capitalized on it. The most popular shopping destination last year was the online marketplace, visited by 41% of all Valentine's shoppers, followed by department stores (33%), discount stores (31%) and florists (17%), according to the NRF.

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Candy (57%), greeting cards (40%), flowers (39%), an evening out (32%) and jewelry (22%) remain some of the most popular purchases.

Philip Nieto and Kerren Keith Gaynor contributed to this article.

For more Lifestyle articles, visit www.foxnews.com/lifestyle.

Is Valentine's Day a commercial holiday? How the day of romance increased consumer spending (2024)

FAQs

Is Valentine's day a commercial day? ›

Over time, the day evolved into a celebration of love and affection marked by the exchange of cards, flowers and tokens of affection. Today, it is a widely celebrated and commercialized occasion for expressing love and appreciation.

Is Valentine's day a consumer holiday? ›

Valentine's Day is the second largest materialistic holiday and is a massive contributor to consumerism. Globally, the National Retail Federation expects shoppers to spend over $25.7 billion on Valentine's gifts this year, with an average of $193 per consumer.

Is Valentine's day about love or consumerism? ›

A lot of this 'stuff' devalues the true meaning of Valentine's Day: celebrating romance and love. The holiday has become a symbol of consumerism with the materialistic gifts that accompany it.

How much will consumers spend on Valentine's day? ›

Overall, consumers plan to spend a total of $25.8 billion to celebrate Valentine's Day, on par with last year's spending and the third highest in the survey's history. Sixty-two percent of consumers ages 25-34 plan to celebrate this year, more than any other age group.

Is Valentine's Day still a business day? ›

However, the truth is that Valentine's Day is also a major business day, with companies around the world capitalizing on this holiday for years.

What is a commercial holiday? ›

In the United States, a Hallmark holiday is a holiday that is perceived to exist primarily for commercial purposes, rather than to commemorate a traditionally or historically significant event.

Is Valentine's Day a romantic day? ›

St Valentine's Day is an annual festival to celebrate romantic love, friendship and admiration. Every year on 14 February people celebrate this day by sending messages of love and affection to partners, family and friends.

Who spends more money on Valentine's Day? ›

Spending differs by gender and age. Men spend more on Valentine's Day ($200+), while women usually spend less. Millennials are the biggest spenders, with those in that age group planning to spend around $300 on the holiday.

Does Valentine's Day have an impact on the economy? ›

As businesses worldwide leverage this celebration to boost their revenue streams and consumers express their affection through various customs and traditions, this holiday's economic impact continues to resonate globally.

Why is Valentine's Day important? ›

It originated as a Christian feast day honoring a martyr named Valentine, and through later folk traditions it has also become a significant cultural, religious and commercial celebration of romance and love in many regions of the world.

Are things more expensive on Valentines Day? ›

Americans who participate in Valentine's Day festivities paid 4.7% more when purchasing candy for their valentines. When purchasing flowers, jewelry, or wine, they faced an uptick of 3%, 0.6%, and 4.7%, respectively.

Who should pay for Valentines Day? ›

Who do you think should pay? Over 70% of Americans believe the man should pay on the first date. 68% of women expect their male dates to pay, while 78% of men feel responsible for the cost. The person who extends the invitation for a date should pay the tab and tip.

Is Valentine's Day federally recognized? ›

Valentine's Day is not a public holiday. Government offices, stores, schools and other organizations are open as usual. Public transit systems run on their regular schedule. Restaurants may be busier than usual as many people go out for an evening with their spouse or partner.

When was the first commercial Valentine's Day? ›

Valentines were invented in Europe but the Worcester historical society says Massachusetts entrepreneurs launched the industry in the United States. Esther Howland started making her first valentines in 1848 with an assembly-line operation. She first advertised her business in 1852.

Is Valentine's Day a marketing strategy? ›

Valentine's Day marketing is an important aspect of a business's yearly marketing strategy, especially in 2024. This day dedicated to love and affection is a prime opportunity for businesses to reach out to their audience and show appreciation for their customers.

Is Valentine's Day only an American thing? ›

Regardless of its origins, Valentine's Day is celebrated around the world. While February 14 marks a day of candy, flowers, greeting cards, and romantic dinners around the United States, other parts of the world have their own unique ways to celebrate St. Valentine.

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