On average, the price placed on love – that is, the amount intended to be spent on Valentine’s Day – was $128.00 ($166 spent by men, and $90 spent by women), according to the Brand Keys bi-annual Customer Loyalty Engagement Index.
More and more gifts are being exchanged between friends and family in the name of St. Valentine, and that’s turned Valentine’s Day into a major retail holiday. There are demographic differences in gift giving, according to the findings:
- The 18-34-year-olds planned to spend the most (as they seem to do every year) at an average of $162.
- The 35-49-year-olds planned to spend $69.
- The 50+ group planned to spend an average of $52.
About the data: The findings are part of the Brand Keys bi-annual Customer Loyalty Engagement Index. Brand Keys asked 1,200 men and 1,200 women (18-60 years of age) drawn from the nine Census regions what they were going to do, what they were going to buy and how they were going to celebrate Valentine’s Day this year.
What did you do for Valentine’s Day? Share your story…