Valentine’s is a billion-dollar day, but will you fork out?
In 2016, people in the US forked out some $19 billion on Valentine’s Day, with the money being spent on February 14th only going up and up.
The last data that gives us an indication on how those down under spend their hard-earned cash on Valentine’s comes from IBISWorld in 2014 and shows that Aussies coughed up some $791 million on flowers, cards, chocolate and dinner that year.
When it comes to what those in the US spent the most on, website Fundivo crunched the numbers and found that jewellery topped the list at USD$4.5 billion and that was closely followed by an evening out at USD$4.4 billion.
It’s a similar story in Australia with an evening out being a top choice for the romantics out there, with popular shows such as My Kitchen Rules being credited for an overall upswing in the restaurant sector.
While seeing these numbers in the billions may be a bit hard to rationalise, on an individual level the average American spends USD$166 on jewellery on the day of love, an evening out garners the next highest share of wallet at USD$87, which is tied with clothing (we’re assuming that’s lingerie).
The age group who feel the most love are those aged between 25-34. Those American’s aged between 25-34 spend on average USD$234 on February 14th. Those aged between 35-44 are the second biggest spenders, forking out USD$187.
Valentine’s Day isn’t about spending big, however if you want to impress, a letter may do the trick. You can find our tips on how to write the perfect love note here.
What do you have in store for Valentine’s Day? Tell us below.