Valentine’s Day is a symbolic moment for couples to show love for each other and surprise their partner with heart-shaped chocolates or roses.
But since it began to be celebrated in the 6th century BCE, Valentine’s Day has turned into one of the most lucrative shopping seasons. Valentine's Day spending statistics provide evidence of significant economic impact.
Data show that tens of billions of dollars are spent each year on Valentine's Day. Although at first glance it seems as if the charm and attraction to this symbolic day has begun to fade, there are still entire industries that remain highly dependent on lovers who buy and exchange gifts.
Some interesting statistics for Valentine's Day:
- Expenditures for Valentine's Day in the US totaled about $ 20.7 billion last year.
- Americans spent over $ 886 million on Valentine's Day gifts for their pets.
- More than 135 million Americans went shopping for Valentine's Day.
- About 85% of all Valentine's Day cards are used by women.
- Men spend up to five times more than women on gifts for their partners.
Despite this economic evidence, it is worth noting today that Valentine's celebrations have declined steadily in recent years. Ten years ago, more than 60% of people celebrated this day. Today, that number stands at no more than 51%.
Expenditure statistics for Valentine's Day show that the average consumer spends approximately $ 162 on this holiday (estimate made, referring to 2019 data). People aged 35-44 are the largest spenders with an average of 279 $, followed by those aged 25-34 who spend $ 239.