Why Valentine’s Day lost its retail glow this year

Consumers have cut back on plenty over the past year, and the latest casualty appears to be love itself. Or at least Valentine’s Day.

According to Omnisend’s latest report, Valentine’s Day-related marketing activity fell 52% YoY in 2026 as 1 in 4 shoppers pulled back on gifting.

While inboxes are typically overflowing with V-Day promos weeks in advance, brands sent about half as many emails tied to the holiday (3,072 between Jan. 2–Feb. 11, compared to 6,395 last year) That decline stands out because overall email volume actually surged 133% YoY, suggesting retailers stayed active…just not for Valentine’s Day.

That shift mirrors broader consumer sentiment: A separate survey of 1,000 US shoppers found 23% have either decreased or stopped spending on holiday gifts altogether in the last 12 months as they try to save $$.

“Shoppers aren’t necessarily buying more—they’re paying more,” Marty Bauer, Omnisend e-commerce expert, said. “When budgets feel tighter, discretionary holidays like Valentine’s Day are often the first to be scaled back.”

For online-first shoppers, the reasons behind the squeeze are well known: inflation, tariffs, and rising shipping costs.

The pullback has been showing up elsewhere, too. US retail sales were flat in December despite peak holiday season demand.

It also helps explain why shoppers are increasingly leaning on BNPL, including during Cyber Monday 2025, which generated $1.03 billion in BNPL purchases in a single day.