How Much Do People Spend on Valentine’s Day?
Valentine’s Day, celebrated annually on February 14th, is a day when love and romance take center stage. It’s a day when couples express their affection for each other through gifts, cards, and special outings. But how much do people actually spend on this romantic occasion? The numbers may surprise you.
According to the National Retail Federation (NRF), Americans spent an average of $143.56 on Valentine’s Day gifts in 2020. This total included spending on flowers, chocolates, jewelry, and other gifts. When considering the number of people celebrating the holiday, the total expenditure reached a staggering $18.2 billion. This figure doesn’t even account for the money spent on dates, entertainment, and other romantic gestures.
The NRF also reported that 48% of people celebrate Valentine’s Day by buying gifts for their partners. Men tend to spend more on gifts than women, with an average expenditure of $177.36, compared to $108.94 for women. Younger adults, aged 18-24, are the most generous, spending an average of $243.56 on gifts.
Flowers remain the most popular gift, with 36% of people purchasing them for their loved ones. The most popular flower is roses, followed by tulips and lilies. On average, people spend $50.90 on flowers for Valentine’s Day.
Chocolates are another popular gift, with 35% of people buying them for their partners. The average expenditure on chocolates is $23.03. Jewelry is also a favorite gift, with 19% of people purchasing it for their loved ones. The average cost of jewelry is $101.20.
In addition to gifts, many couples spend money on dates and entertainment. The average couple spends $100.03 on a Valentine’s Day date, with the most popular activities being dining out, attending a movie, or going to a concert.
While the numbers may seem high, it’s important to remember that the true value of Valentine’s Day lies in the love and effort put into celebrating it. Whether you’re spending $10 or $1000, the most important thing is to show your loved one how much they mean to you. So, how much will you be spending on Valentine’s Day this year?
