Valentine’s Day is celebrated worldwide, and people are prepared to spend a lot of money to show their love. As well as being necessary for a person who wants to see if they are loved, it is also important to retailers. Money is needed for that special gift, and the odds are that some will play mega jack in the hope of boosting their jackpot.
Most Popular Gifts
From men, it will be flowers, chocolates, champagne, perfume, and jewellery. They are most likely to receive aftershave, alcohol, or cufflinks. More extravagant lovers will book a romantic foreign break for their partner.
Most Generous Nationalities
Research has been carried out into the amount spent on Valentine’s Day by people in different countries. In 2020 £1.45 billion was spent in the UK. This means everyone paid an average of £35. In Spain, it is an average of 123 Euros with the French not far behind with 118 Euros. Germany fell short with it being just 92 Euros per person.
Australia has been able to break down the expense quite a bit more. The average was AUD 90, but quite a big difference in amount per person. Just under a third spent AUD 100 or more, with very few spending less than AUD 25. Nearby, New Zealand saw the men part with an average of NZD 157 and women NZD 103.
In North America, the Canadians and Americans add a great deal to the national budget as well. Wine is the most popular gift in Canada, with underwear close behind, bringing CAD 3bn upwards. The average amount spent in the USA is $164 per person, and as with other countries, men spend more with the figures showing $231 and women spending $101.
The five cities that see their residents spend a lot on Valentine’s Day are spread across a few continents. Los Angeles tops the list with an expense of $1,316, with Venice coming second with $1,076. The third is New York, where couples spend $1,056. In fourth place is Sydney, where they part with $1,042 and Zurich $1,038.
The overall Valentine’s Day expenditure per country is as follows. All figures are rounded down to the nearest £, $, or Euro. United States – $21.8 bn – this is a year-on-year drop of 16%, United Kingdom – £1.45 billion, New Zealand – NZD 216 million. Not all countries have produced an overall spend but agree that the hospitality sector sees a significant boost on the 14th of February.
One area that has not been discussed is the amount spent on pets. More than 25% of residents in the United States will buy their pet a present. This is a 10% increase in 10 years. Unfortunately, the figure dropped in 2021, but that could be a temporary blip due to the pandemic’s lost income.
Despite being a top-rated holiday, Valentine’s Day only comes second on the list regarding the number of cards sent. Each year there are more than 1 billion posted. There could also be electronic ones that have not been considered.