What are the economics of Valentines day?
Hello, and thank you for your question about the economy and how it relates to Valentine's Day. 61.8 % of people celebrate Valentine's Day and many consider Valentine's Day to be a major, important holiday.
In 2015, U.S. News & World Report found that Valentine's Day spending was set to reach $18.9 billion. The average amount a person spent on Valentine's Day was $142.31. $96.63 of that amount when towards a gift for a significant other while the remaining $72.68 went towards gifts for other family members, friends, co-workers, children's classmates, and other acquaintances. Males were estimated to spend $190.53 on Valentines day in 2015 compared to $96.58 for females. The average male that is shopping for their significant other will spend nearly twice as much as the average woman with these males spending $128.90 and females spending $62.47.
Many people think of cards when they think of Valentine's Day. The Greeting Card Association states that 145 million units are sold for Valentines Day. This number does not include Valentines for the classroom. It is interesting to note that women buy 80% of the cards sold each year. The vast majority purchase cards that are between $2 and $4.
There is a variety of gifts given on Valentine's Day. The most popular gift are as follows. Note that these gift statistics also allow for multiple gifts given.
Candy - 47.5 %
Flowers - 34.3 %
Cards - 52.1 %
Jewelry - 17.3 %
Dinner - 34.6 %
Clothing - 14.4 %
Gift Cards - 12.6 %
Other Gifts - 11.2 %
I searched high and low but could not find any statistics regarding the best and worst gifts. I did find a survey done by TODAY Moms and Parenting.com. They surveyed 800 moms to find out the best and worst gifts they received for Valentines Day. Among the worst gifts were a pot holder, a pack of toilet paper, an iron, a day after Valentine's gift when it was all 50 percent off, and nothing at all. There were some gifts that the moms surveyed loved such as a framed menu from the restaurant where they had their first date, handmade jewelry, and other thoughtful items. Another list I found had 10 of the worst Valentine's Day gifts. The list included a gym membership, vacuum cleaner, sugar-free candy, gag gifts, weight loss supplements, fast food gift card, socks, cleaning supplies, taxidermy animals, and wilted flowers.
I could not find specific statistics regarding the amount of couples that break up on Valentines Day but I did find that Four out of 10 survey participants (Survey by Yahoo!) responded that they had ended a relationship during the time between the holidays and Valentine's Day. Valentine's Day puts pressure on some couples which could be the reason for some of these breakups.
Here are some more interesting facts about Valentines Day. The average number of roses produced for Valentine’s Day is 196 million. Men bought 73% of the flowers sold on Valentine's Day. 53 % of women said that they would end a relationship if they did not receive a gift for Valentine's Day. It is estimated that 11,000 children are conceived on Valentine's Day. 8 billion candy Sweethearts are produced each year with most of them purchased before Valentine's Day. 58 million pounds of chocolate will be purchased the week of Valentine’s Day.
I hope this information helps you. Thank you for choosing Wonder!