Valentine’s Day is the most romantic day of the year for every couple. Most of them celebrate it in their own unique way, but the most common practice is to buy each other gifts during this time. Shoppers in the United States spent more than $21 billion on Valentine’s Day gifts, while the United Kingdom Valentine’s Day spending amounts to around £1 billion for the gifts they give to their loved ones.
Whatever their choice of a gift might be, last year’s pandemic shifted the shopping trends around the world. Let’s see who spent the most, what they bought, and what their favorite means of purchasing were last year.
Who Spends the Most on Valentine’s Day?
People all around the world spend at least a part of their budget on Valentine’s Day. While there are countries worth mentioning, we’ll focus on two of the leading economies of the world: The U.S. and the UK.
Although you might guess that men spend more than women, here are the exact stats of who spent the most on this day in 2021 in these two countries.
- In the U.S., men spent an average of $106.85 for their wife’s Valentine’s gifts, while women cashed out significantly less, an average of $68.10 on their husbands, according to Finder.
- Millennials spent the most on their wife, with an average of $130.04 or more for Valentine’s day, according to the same study.
- Baby Boomers spent around $123.47 on their girlfriends, while the Gen X spendt only about $105 for their wifes, according to the same study.
- In the UK, men spent up to £40 on average in 2021, compared to £10 that women spent on Valentine’s Day, according to Finder’s statistics.
- Gen Z were the highest-spending population in the UK, with most of them spending around £41 for their Valentine, according to the same study.
- Millennials spent £32, the Gen X spent around £19 and Baby Boomers spent £11, according to the same study.
What Did the Buyers Spend Their Money on for Valentine’s Day?
As we already mentioned, Valentine’s day gifts range from the traditional ones, such as flowers or bouquets, to lavish jewelry and travel arrangements. Even during a pandemic, people bought various things for their loved ones.
- The average amount spent per person on Valentine’s Day in the U.S. in 2021 was $164.76, according to Balancing Everyting.
- In the U.S., most people spent money on candy (54%), 44% of them spent money on greeting cards, while 36% of them bought flowers, according to the National Retail Federation.
- Americans also spent around $4.1 billion on jewelry, $2.8 billion on an evening out, and $2.7 billion on clothing for Valentine’s Day 2021, according to the same study.
- In the UK, the average amount spent per person on Valentine’s Day in 2021 was £23, according to Finder’s statistics.
- Brits like to buy Jewelry, clothing, and flowers for Valentine’s Day, according to Payment Sense.
Who Are People Buying the Gifts for?
This isn’t a trick question. You probably think that the obvious answer is their partner or their spouse. However, we have seen an increase in buying Valentine’s Day gifts for other members of the family, such as our parents or our children but also our pets.
- Americans spent around $106 on their wife and $85 on their girlfriend, while they spent $76 and $73 on their kids and other family members, according to Finder.
- They also spent $27 on their pet dog and $23 on their pet cat, according to the same source.
- In the U.S., two in three respondents (69%) planned to celebrate Valentine’s Day with their partner and one in three (33%) planned to celebrate with their child(ren), according to Offers.com study.
- In the UK, “people congratulate and give gifts not only to their lovers, but to all those whom they love — parents, relatives and even pets,” according to tv-english.club’s article.
Where Are the Buyers Getting the Gifts?
In this fast day and age of the internet, and impacted by a pandemic, most of our shopping habits shift online. Let’s find out where are the buyers getting their Valentine’s Day gifts.
In the U.S., the top 5 shopping destinations for Valentine’s Day 2021 were:
- Online (29.5%)
- Department store (22.5%)
- Discount store (21.7%)
- Specialty stores (13.2%)
- Local business (13.2%), according to Vue.ai
In the UK,
- 60% of shoppers purchased gifts from supermarkets, according to GlobalData report.
- The websites saw 28% boost of sales in February 2021, according to Internet Retailing.
How do Consumers Spend Valentine’s Day?
Valentine’s Day is all about spending it with your loved one. Let’s see how people planned to spend this special day in 2021 despite the pandemic.
- Over 1 in 3 couples would normally eat at a restaurant on Valentine’s, but over half of all U.S. and UK internet users are still uncomfortable about indoor dining, according to GWI.com.
- Around 3 in 10 UK and U.S. couples tend to cook at home on Valentine’s Day, according to the same source.
- Consumers in the U.S. kept Valentine’s Day celebrations close to home or at home and only 24% of them said they plan to gift an evening out, compared out in 2021, compared to 34% in 2020, according to National Retail Federation.
Fun Facts About Valentine’s Day
Now that you know most of the essential information about Valentine’s Day spending in the U.S. and the UK, here are some interesting facts about this Christian holiday.
- This holiday originated from the pagan ancient Roman festivities called “Lupercalia,” according to History article.
- Around 6 million couples will get engaged every Valentine’s Day, according to Fortunly.
- The first heart-shaped box of chocolates was made in 1861, according to the same source.
- 7 countries in the world banned the celebration of Valentine’s Day; those are Malaysia, Indonesia, Iran, India, Pakistan, Saudi Arabia, and Russia because it’s a Christian holiday, according to Wedded Wonderland.
- 60% of America’s red roses are grown in the state of California, according to The Holiday Spot.
- The first time people associated Valentine’s Day with love was in the 3rd century AD, when, “Emperor Claudius II had banned marriage because he thought married men were bad soldiers. Valentine felt this was unfair, so he broke the rules and arranged marriages in secret. When Claudius found out, Valentine was thrown in jail and sentenced to death. There, he fell in love with the jailer’s daughter and when he was taken to be killed on 14 February he sent her a love letter signed “from your Valentine”, according to a BBC article.
Valentine’s Day spending rises every year, along with economic growth in every world country. Although fewer people celebrated Valentine’s Day last year, of those who did, most still prefer simple old-school gifts, but we also see more people buying lavish gifts.
However, now they do it online due to the last year’s pandemic.
Whether your Valentine’s Day gift choice is one red rose, a wristwatch, or a pearl necklace, we’re sure it was from the heart and that your loved one knows you love them no matter the gifts you give them.