The United States will be showered with love as 52% of its adults are planning to celebrate this Valentine’s Day. About 28% of the population will observe the occasion. Total spending would be a total of $25.9 billion (up from $23.9 billion in 2022),
More than half of consumers plan to shell out an average of $192.80 on this day, up from $175.41 in 2022, and the second-highest figure since NRF and Prosper started tracking Valentine’s Day spending in 2004.
Naturally, the day of love will translate into a great day for business. Exchanging chocolates, greeting cards, flowers, gifting precious metals should remain at the front and in the center.
Let’s dive a little deeper:
Candies, Cards & Flowers Continue to Remain Eternal
About 57% of consumers are planning to buy candies, followed by greeting cards (40%) and flowers (37%). Zacks Rank #1 (Strong Buy)
The Hershey Company (HSY) is likely to be one of the best bets this year. The company has about 5.4% exposure to Invesco Dynamic Food & Beverage ETF ( PBJ Quick Quote PBJ - Free Report) . Gifting Precious Metals Ageless
Gifting jewelry this Valentine’s Day has become more popular than ever before. Total spending on jewelry could touch a high of $5.5 billion, per NRF. Zacks Rank #3 (Hold)
Brilliant Earth Group (BRLT) is a great pick here. It is a digital-first jewelry company.
Also, forget gifting precious metal in physical form, gift gold bullion ETF
SPDR Gold Shares ( GLD Quick Quote GLD - Free Report) . It is up 5.3% in the past three months versus 2.2% gains in the S&P 500. Gold is considered to be a safe haven and may gain strength if the stock volatility persists. Gifting An Experience: A Booming Trend
About 32% (up from 26% in 2022) is planning an evening out and they are likely to spend about $4.4 billion and the highest since NRF and Prosper started asking this question in 2017. In this regard, restaurant ETF
AdvisorShares Restaurant ETF ( EATZ Quick Quote EATZ - Free Report) and experience ETFs like Defiance Hotel, Airline, and ALPS Global Travel Beneficiaries ETF (JRNY) should benefit. Shopping Online A Fad Now
Online purchasing would continue to rule as about 35% of consumers are planning to buy their Valentine’s gifts online this year.
ProShares Online Retail ETF ( ONLN Quick Quote ONLN - Free Report) is a beneficiary of the trend. With all the celebration around, who can get forget Amazon (AMZN), a hot destination of online shopping? Buy Your Valentine A Clothing-Heavy ETF
About 19% of consumers find clothing as a good gift this Valentines Day. The Zacks Rank #2 (Buy)
SPDR S&P Retail ETF ( XRT Quick Quote XRT - Free Report) invests 20.25% of its basket in apparel retail. Hence, the fund may gain in the near term. Dollar Store: A Winner Too?
Visiting department stores (34%), discount stores (31%), and specialty stores (18%) would also remain in trend. Consumers will look for sales and promotions while celebrating Valentine’s Day this year. Several discount retailers like
Costco (COST) may win from the trend and make VanEck Vectors Retail ETF ( RTH Quick Quote RTH - Free Report) a winner. Pet ETF Seems a Good Bet
Out of the $17% in per-person spending this year on Valentine’s Day, gifts for pets, friends and co-workers, along with classmates or teachers make up $14. This puts
ProShares Pet Care ETF ( PAWZ Quick Quote PAWZ - Free Report) in a sweet spot.