The Cost of Love and How They are Purchased

The Cost of Love and How They are Purchased

Industry | Feb 04, 2019

Aside from wedding anniversaries, Valentine’s Day is the single most important date for most couples. We go on romantic getaways or fancy dinners or luxurious gifts.

In 2018, the National Retail Foundation reported that American consumers spent $19.6B on Valentine’s Day, which is expected to go up to $20.7B.

Whether we’re thinking of traditional gifts or a unique experience, the cost of love seems to keep on growing.

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2018 Valentine’s Day has shown us that average American consumers spent $143.56 on significant others and on friends and family. The spending breakdown in 2018 includes jewelry, a night out, flowers, clothing, and candy. As such, Valentine’s Day non-celebrants spent money treating themselves and planning a get-together with friends and family.

But the more interesting data is digital devices are becoming the leading platform that consumers use to purchase their Valentine’s Day presents. In the same 2018 Statista report, data showed that 36.9% of consumers planned on using their mobile devices to look at gifts and compare prices. At the same time, 44.7% planned on utilizing their tablets in helping their decision-making process.

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