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Happy Valentine’s Day

Facts and figures for Valentine’s Day 2021

Valentines-day-Box of Candy Flowers 2057745_640Just over half of U.S. adults plan to celebrate Valentine’s Day this year, spending a total of $21.8 billion, according to a survey conducted for the National Retail Federation.

Nearly three-quarters of consumers celebrating Valentine’s Day say the pandemic will directly impact their plans for the holiday.

While candy, cards, and flowers are still part of celebrations, there’s a significant decline in the number of consumers who plan an evening out.

Less than one-quarter of consumers plan to go out for dinner, the lowest in the survey’s history. However, 41 percent say they’ll plan a special dinner or celebration at home.

Those celebrating plan to spend an average $164.76, down $32 on average per person, from a record $196.31 in 2020 right before the pandemic began.

With consumers planning fewer evenings out, spending on significant others saw the biggest drop this year, down an average of $13 year over year.

In addition, the survey shows a decrease in spending on teachers, classmates, and co-workers, as many continue to social distance.

Consumers say they’ll spend an average of $10.77 on their children’s classmates and teachers, down from $14.45 last year. In addition, they plan to spend an average of $8.47 on colleagues, down from $12.96 in 2020.

Another survey, conducted by the personal finance website WalletHub, showed 98 million Americans expect their significant other to spend less on Valentine’s Day this year.

The survey also showed:

  • Bad credit might keep you single – 47 percent of people wouldn’t marry someone with bad credit.
  • Reckless spending ends relationships – 47 percent of people would break up with their significant other if he or she spent irresponsibly.
  • Financial irresponsibility isn’t attractive – 44 percent of people say irresponsible spending is a bigger turnoff than bad breath.
  • Love is blooming for some people – 48 percent of people say they got richer in love since last Valentine's Day.

See the infographic below for more details on the WalletHub survey:

2021 valentines day spending survey

Source: WalletHub

Comments

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Tom at Sightings

Good news, bad news. The bad news is that we will not be going out to dinner as we usually do. the good news: we'll keep our Valentine's budget in the $1 - $49 range.

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