I hope your Valentine’s Day is going well.
This Valentine’s Day, 79 percent of baby boomers plan to give a gift to their significant other, and 31 percent plan to splurge on expensive gifts such as fancy dinners, jewelry, or a romantic vacation.
Other information on Valentine’s Day gifting trends and spending habits from the 55-plus age group, according to a survey by Toluna PLC, are:
- Influences on gift giving: Older adults are least concerned about costs, with only 36 percent saying it’s the most important factor, compared to 42 percent in the 18 to 34 age group. Boomers are most likely of any age group to rely on hint-dropping from loved ones to make their selections, with 14 percent saying it’s the top factor. See the pie chart for more answers.
- What they’re giving: While 59 percent of boomers surveyed say they will give “old-school” gifts like chocolate or a dozen roses, others are branching out: 24 percent will give healthy gifts – food, fitness gear, spa services; 20 percent will give gifts of an experience – cooking or other classes, artwork, an experiential trip; and 22 percent will give active gifts – bicycle, skis, tickets to sporting events.
- What they don’t want as a gift: Not surprisingly, although many consumers want to give healthier gifts, there are limits. The least desirable gift is enrollment in a weight loss program, cited by 62 percent of respondents.
I hope your Valentine’s Day is going well. Best wishes to you and your loved ones on this holiday of love.