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The Stats Behind Valentine's Day - Able Accountants

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valentines day stats able accountantsYes, Valentine’s Day is that time of year when we try to make an extra connection with the ones we love, or the ones we hope will love us, but what are the facts and figures behind this day? How much money does this Valentine’s Day actually generate each year and is it rising? How do we spend our money?

It goes without saying that the days of our better halves being satisfied with a card and some petrol station flowers are long gone. That was the simpler Valentine’s Day of yesteryear. The modern Valentine’s Day demands intricate planning and lots of surprises that tantalise the senses.

Stick with us and let’s go through some Valentine’s Day spending trivia that you should definitely share around.

Would it surprise you to learn that the average man spends £40 on Valentine’s Day, while women spend £24? While the average may be £40, one in ten men will spend more than £75 on their partners. Is that you? Men are also three times as likely as women to be spending larger amounts of more than £201.

Jewellery shops report that their sales peak around the 8th of February, while lingerie purchases double in the days leading to the big day.

How about different groups? Well, those aged between 25 and 34 will spend the most with an average of £33. The Scottish are the thriftiest of V-Day spenders, averaging £26. That might not sound particularly romantic, but people in Wales and the South West of England are least likely to celebrate Valentine’s Day at all! The people of London are the keenest when it comes to celebrating Valentine’s Day with 23.1% making the effort. Those in the East Midlands are not far behind with 22.5% celebrating the day.

In the US our cousins across the pond spend a stunning $231,000,000, on just their pets, while 15% of US women end up sending flowers to themselves!

In the UK most of us do choose to spend our money on each other, but we also spend on our pets with 4.5% of us spending on our dogs. However, cats aren’t so lucky as only 3% of us spend on our feline friends. This adds up to 3.1 million of the British population spending money on pets on Valentine’s Day. It isn’t news that Millennials are very keen on their pets and they are predictably the most likely to spend money on their pets for Valentine’s Day with 8.7% of them spending some money on their furry friends.

Women are significantly more likely than men to spend money on their children for Valentine’s Day, but they are also keener to treat themselves on Valentine’s Day. 2.5% of women treat themselves on Valentine’s Day while only 1.7% of men do the same.

However you choose to spend Valentine’s Day this year, and whomever you choose to spend your money on, have a great one and take the opportunity to let someone know that you think the world of them.

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