Despite the prevalence of red and pink hearts and the innumerable boxes of chocolate, Valentine’s Day in 2019 looks very different than it did a decade ago, according to a recent feature from the National Retail Federation. Ten years ago, more than 60 percent of adults planned to celebrate Valentine’s Day; today, that’s dropped to just over half. At the same time, spending for the holiday has continued to rise and is projected to reach more than $20 billion this year. Driving these opposing trends are three critical shifts in how consumers view and celebrate love’s official holiday.

So Over It

In 2009, 72 percent of adults aged 18-34 and 65 percent of those 35-54—prime ages for young romance—said they planned to celebrate Valentine’s Day. According to the most recent survey from NRF and Prosper Insights & Analytics, a little more than half of those under 55 plan to celebrate this year.

Young People Do Valentine’s Day Differently

While more consumers say they are not officially “celebrating” on February 14, many will still mark the event in some way. In fact, a quarter who aren’t celebrating admit they still plan to treat themselves to something special, hold a get-together with other single friends or even purchase an “anti-Valentine’s Day” gift.

Those Celebrating Valentine’s Day Spend More

Even as fewer consumers have official Valentine’s Day plans, those who do celebrate are spending more than ever. Between 2009 and 2019, the average amount consumers planned to spend on Valentine’s Day gifts increased by $60. While gifts for a significant other are still an important part of the holiday, much of the increase is being driven by gifts for other loved ones.

Click here to read the full story from NRF. For more information on Valentine’s Day and other consumer trends, visit NRF’s Valentine's Day Headquarters.