Roses are red, violets are blue, how much money will somebody spend on you…and their other lover?
According to a survey conducted by Finder, 68.2 million Americans (26.77% of the adult population) plan to buy a Valentine’s gift for more than one romantic partner in 2020. Men are more likely than women to be shopping for more than one partner, with 35.50% of men saying they will be purchasing a Valentine gift for more than one romantic partner, compared to 21.03% of women. Talk about spreading the love far and wide this year!
Here are some key highlights from our findings:
- Americans are planning to spend roughly $50 billion for Valentine’s Day in 2020, with the combination of $19.2 billion on gifts and $30.7 billion on activities
- Millennials are expected to spend the most on Valentine’s Day gifts and will drop approximately $8.4 billion in 2020
- Travel is the priciest item on Valentine’s Day, with people expected to spend an average of $299 on a romantic getaway
The full report can be found here: https://www.finder.com/valentines-day-statistics
Below I have included commentary from Gabrielle Pastorek, Shopping Writer for Finder.
Gabrielle Pastorek, Shopping Writer at Finder:
“While I’m a bit surprised at the percentage of people who are buying gifts for more than one romantic partner this Valentine’s Day, I’m not at all shocked that online spending continues to gain more and more traction, even during a holiday where the focus is on traditionally store-bought items like flowers, cards and candies.
It makes sense that Amazon is the most popular retailer for V-Day shopping — free speedy shipping for Prime members makes last-minute online gifting possible like never before. I expect this to be a trend that continues to increase year over year, spanning across all major holidays.
Another relatively new trend we’re seeing across most major holidays is a shift in focus from physical gifts to experience gifts, such as dining out, outdoor adventures and travel. Our stats show that gifts for this Valentine’s Day are following suit, with a huge portion of spending planned for travel bookings.”