People spend billions of dollars on gifts every year around Valentine’s Day.
Last year alone, Americans were expected to spend a whooping $19.7 billion. But what is all the money spent on? And is it what your loved one really wants? To dig into this, Couponbox has done some research into 2016’s numbers.
Here’s a closer look at what people love to splurge on:
Coming in first place is jewelry, with $4.5 billion to be spent on necklaces, bracelets, rings and more. 21% of people were planning to buy jewelry, with an average individual spending of $172.38.
$3.6 billion were expected to be spent on nights out, where couples pay an average of $280 for a romantic dinner at a fancy restaurant.
Wondering why rose prices increase by an average of 40% on Valentine’s day? Flowers are the 3rd most purchased gift with a total value of $2.1 billion. If you belong to the 61% of men who plan to pick up a bouquet for their loved one this year, make sure to check out our best flower coupons and deals.
Apparel is fourth on our list. However, avoid gifting socks or massage coupons to men. Our research also showed that 61% of American women do not want to receive lingerie as a gift.
Valentine’s Day is not complete without sweets. 52% of Americans planned to buy candy as a gift, bringing the total expected spending to $1.7 billion. Chocolate makes up 75% of the candy sales, with 58 million pounds purchased in that week alone.
But what is it that people really want to get on Valentine’s? Our survey showed that both men and women mostly want a romantic night out. Flowers, chocolate, and jewelry follow next on the women’s list whereas men tend to favor electronics, chocolate, and lastly gift cards.
If you were thinking of treating your pet with a little gift on Valentine’s day, you’re not alone. Our research showed that Americans intended to spend over $700 million on pet gifts at shops like Petco, PetSmart and others. After all, what’s a better way to tell your pet you “woof” them!
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<p><img src="https://www.couponbox.com/press/wp-content/uploads/2016/05/valentines-day-numbers.jpg" title="Valentine's Day by the Numbers" /></p><p><a href="https://www.couponbox.com/press/wp-content/uploads/2016/05/valentines-day-numbers.jpg">YValentine's Day by the Numbers</a></p>