January 24, 2015

23 Swoon-Inducing Valentine's Day Statistics

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The amount of money people spend to celebrate the holiday is mind blowing (who says money doesn't buy love?). The CreditDonkey team tracked down 23 Valentine's Day statistics that will get your heart fluttering.

Valentine's Day traditions date back to the 5th century, and whether you love it or hate it, it's still going strong today. The annual celebration of romance is eagerly anticipated by retailers, who count on shoppers hitting the stores in full force as the countdown to February 14th begins.

© Jan Fidler (CC BY 2.0) via Flickr

1. Valentine's Day is a huge moneymaker

While some people criticize Valentine's Day for being overly commercialized, that hasn't stopped candy makers, greeting card companies, florists, and jewelry stores from cashing in on the holiday. And it hasn’t stopped consumers from coming back for more year after year. However, they did cut back a tad. Americans shelled out roughly $17 billion for the big day in 2014, which is down from the estimated $18.6 billion they spent the year before.

2. We spend more than $100 on this holiday

Buy one dozen roses on Valentine’s Day and you could easily blow your budget before you’ve even considered chocolates or a romantic dinner. In 2014 and 2013, the average person spent about $135 during the sweetheart day.

3. That's chump change compared to other countries

While the holiday is celebrated a little differently in other places around the globe, it doesn't keep people from swiping their credit cards to share the love. In Asia, for example, average spending is right around $274 per person. Germans are at the lower end of the scale, getting off cheap with just $94 on average.

4. Women spend half as much as men do

When Cupid lets his arrows fly, the heart is the intended target, but many men take the hit in their wallets instead. Men fork over more than twice as much for Valentine's Day, spending an average of $133 compared to just $56 for women.

5. Unmarried couples are also more likely to splurge

Once the honeymoon's over, spending for Valentine's Day seems to slow down significantly. In fact, you're likely to spend the most during the courtship stage of a relationship. Even though some of them may be on the younger side and making less money, unmarried couples spend $20 to $30 more for the holiday on average.

6. Income plays a part in how much you spend

It seems like the more money you earn, the more you're tempted to spend, and that's definitely the case when it comes to Valentine's Day. People earning more than $50,000 annually spend around $150 on average, compared to $100 for those who earn less.

7. Not all shoppers are desperate souls

With the cost of celebrating Valentine's Day steadily growing, the pressure is on to find the best deals. Those who take the time to consider where they shop and do some shopping ahead of time are more likely to keep their love budget in check. In fact, 40% of shoppers said they wouldn't overlook discount stores when scouting out gifts for the holiday.

8. Online shopping have snagged the non-procrastinators

Have you ever looked at the greeting card rack on the 14th? It’s a sad place of people who waited too long to look for gifts and have a limited selection. It’s likely that they resolved to do better and shop earlier the next time. And chances are, if they make good on their word, they’ll be looking online: 16% of Valentine's Day presents were purchased on a website in 2014, with 32% of tablet owners and 24% of mobile users scoping out gift selections via the web.

9. Valentine's Day cards are in second place

Christmas is by far the most popular holiday for cards, with more than 1.6 billion sold annually, but Valentine's Day ranks as the second busiest greeting card holiday. More than 145 million cards are sold each year in honor of February 14th.

10. You won’t save money on flowers

Although it places third behind Christmas and Mother's Day for total annual flower sales, Valentine's Day takes top honors in terms of the number of people buying fresh flowers. Just over one-third (36%) of all fresh flowers are sold on Valentine's Day, which accounts for a 40% share of the total dollar volume.

11. Not everyone buys red roses

A rose is a rose is a rose, and plenty of people are snagging them up for Valentine's Day. An estimated 257 million red roses were produced for the holiday in 2014. While red was the most popular color among 61% of buyers, pink, yellow, purple, white, orange and peach shades also sold like hotcakes.

12. Some people opt for houseplants instead

Despite their popularity, roses aren't the only kinds of flowers that see their sales soar over Valentine's Day. Approximately 25% of shoppers prefer other types of blooms, such as lilies, carnations, or tulips, while another 21% purchased houseplants.

13. Women buy flowers too

Almost one-fourth (23%) of adults purchase flowers for Valentine's Day, and they’re not just males. Roughly 63% of men and 30% of women said they were buying flowers for their spouse. Another 23% and 12%, respectively, picked up flowers for a significant other.

14. Valentine’s Day goes beyond the romantic type of love

While love interests are most often the recipients of flowers, mothers receive their fair share of bouquets as well. Around 18% of flowers purchased for Valentine's Day are meant for mom, with women three times more likely than men to buy them for that purpose. Friends, children, siblings, grandparents and even dads also account for a smaller percentage of flower sales.

15. Not all Valentine's Day flowers are for someone else

If you don't have a sweetheart, it doesn't mean you can't get into the holiday spirit. Indeed, 7% of people who buy Valentine's Day flowers are picking them up for themselves. Women are much more likely to indulge, with 19% saying they bought their own flowers, versus just 1% of men.

16. Men and women disagree on the best thing to give

Men definitely feel the pressure when it comes to choosing the perfect gift for Valentine's Day, and they don't always get it right. Nearly half (45%) of men think flowers are the best choice while only 4% of women agree. If they can have only one gift, men will overwhelmingly say they just want sex, but women are more likely to buy them tools, electronics, or tickets to sporting events.

17. Women aren't big gift givers

Valentine's Day is all about showing the people you love that you care for them, but for women, that doesn't mean buying a fancy gift. Sixty-one percent of women said they planned to treat their special someone to either dinner out or a home-cooked meal, while a third said they'd be buying chocolates.

18. But they definitely expect to receive them

Just because women aren't gearing up to buy lots of pricey presents for Valentine's Day doesn't mean they're letting their significant others off the hook. Nearly 55% of women said they wanted to enjoy a nice dinner, while close to 37% were expecting flowers. Another 35% were interested in chocolate while 22% hoped for jewelry.

19. A lot of people are satisfying their sweet tooth

Heart-shaped boxes of chocolate seem to start hitting the stores almost as soon as the Christmas decorations are cleared away, and Americans are happy to hand over big bucks on confectionary delights. Shoppers spent $707 million on candy and another $23 million on wine in the weeks leading up to Valentine's Day 2013. In all, that adds up to 127 million pounds of sweets and 2 million bottles of vino.

20. Or shopping for something sparkly

Valentine's Day is a favorite among jewelry store owners, considering that sales of rings, necklaces, and bracelets spike dramatically this time of year. Shoppers shelled out close to $4 billion in 2014 to buy shiny baubles for their beloved.

Tip: Best Time to Buy Jewelry

21. Valentine's Day isn't just for people

Americans spend roughly $58 billion annually on their pets, and some of that money goes towards Valentine's Day treats. Nineteen percent of people said they'd be buying a little something extra for their pet, spending right around $5.50 on average.

22. It's not always the right time to propose

About 6 million people were planning to pop the question or accept a proposal on Valentine's Day. That doesn't mean, however, that you should rush out to buy a ring. Sixty-three percent of men and 69% of women agree that getting engaged on Valentine's Day is a cliché.

Tip: Best Place to Buy Engagement Ring

23. Some people would rather skip Valentine's Day

The number of people who actually celebrate Valentine's Day has been on the decline. Fifty-four percent of Americans said they'd observe the holiday in 2014, down from 60% the year before. That's a nearly 10% drop from the 63% who did something special to mark the occasion in 2009.

Sources and References:

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