Valentine’s Day Spending Statistics

Some 135 million Americans expected to drop $30 billion on V-Day 2019.

Roses are red. Violets are blue. If you don’t spend big on Valentine’s Day, your partner might end things with you.

It’s expected that more than half (53%) of all Americans will pull out all the stops this February 14th, spending a collective $30 billion on all manner of heart-shaped treats and experiences.

However, signs point to Lotharios tightening the old purse strings in 2019, with spending on Valentine’s Day down 10%, falling from $30.3 billion in 2018 to $30 billion in 2019.

So who’s spending what on whom?

If you’re one of the 53% of Americans planning to spend on someone for Valentine’s Day, I hope you’ve got deep pockets: The average person is expected to spend $221.34.

As far as the spending battle between the sexes, 62% of men expect to spend for a loved one, versus only 45% of women who say the same. That said, it’s little surprise that those spending on their wives will pay the most in 2019 at an average of $357.96 — 73.5% higher than the $206.23 those spending on their husbands. There’s a similar divide between boyfriends and girlfriends, who say they’ll spend $231.55 and $105.02, respectively.

Who are we buying for?	Average amount spent
Wife	$357.90
Kids	$280.07
Myself	$235.56
Girlfriend	$231.55
Friends	$208.10
Husband	$206.23
Secret	$160.13
Other family members	$146.24
Boyfriend	$105.02
Pet cat	$95.90
Pet dog	$81.56

Who else is expected to be showered in love on Valentine’s Day? Rounding out the top three recipients are kids at $280.07, followed by those spending gifts for themselves at $235.56.

Gen Y is crazy in love … with buying Valentine’s Day gifts

For the second straight year, Gen Y leads the way with V-Day gifts, with 63% of these little cupids planning to buy a gift. Gen X closely follows at 57%, with baby boomers a distant third at only 39% who plan to buy a gift.

Saying “I do” to Valentine’s Day

Those who’ve taken the plunge or in a domestic partnership are most likely to spend on their partner for Valentine’s Day, with 66% planning to participate. Interestingly, those who were separated are the next group most likely to spend on February 14th at 52%. Singles ready to mingle round out the top three at 39%.

Valentine’s Day grinches

Roughly 43 million Americans — about 17% of the population — will get an unwanted Valentine’s Day gift in 2019. This calculates to about $9.5 billion spent on gifts nobody wants.

Source: https://www.finder.com

Theresa Todman, Managing Partner/CEO of B&M Financial Management Services, LLC . Theresa works with small business owners and entrepreneurs to assist them with financial management and creating organized systems and procedures. She specializes in bookkeeping, accounting, QuickBooks solutions, small business tax issues and consulting.

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