Menu
Lifestyle

Aussies to spend $528m this Valentine’s Day

LOVE doesn't come cheap.

According to various studies, Australians are expected to splash some serious cash for Valentine's Day this year.

Commonwealth Bank's latest spending data has revealed Australians spent more than $23 million on Valentine's Day last year.

In 2017 we dropped $13.6 million on dinner, $7 million on drinks and $3.2 million on flowers - a 60 per cent total increase in spending across these three categories compared with an average Tuesday in February.

And unsurprisingly, florists experienced a whopping 500 per cent increase in sales on Valentine's Day last year compared with an average Tuesday that month.

The most romantic age group were the 26 to 35-year-olds, who accounted for 38 per cent of all florist spending and 36 per cent of all restaurant spending.

And the 18 to 25-year-olds weren't far behind, taking the next biggest share of spending in restaurants at 20 per cent.

But Australian Retailers Association (ARA) executive director Russell Zimmerman said he expected spending to increase this year with Aussies feeling a bit more romantic following the successful same-sex marriage postal survey.

The ARA expects florists will have worked 48 hours straight in the lead-up to Valentine's Day, traditionally the busiest day on the calendar for the industry.

So how much will we spend on our sweethearts in 2018?

In a significant contrast to the Commonwealth Bank's more conservative spending figures from Valentine's Day 2017, comparison site finder.com.au estimates a staggering $528 million Valentine's Day splurge today.

The research found around two in five of us will spend an average of $75 on our partners, with Gen Ys forking out $87 on average compared to $76 for Gen X and just $45 for Baby Boomers.

Men are expected to spend almost double the average female spend, splashing $94 compared to $56.

But the site's analysis also discovered a rising anti-Valentine's Day sentiment, with 64 per cent of Australians planning to boycott the day altogether.

Queenslanders are most likely to ignore the day entirely, followed by Victorians and South Australians.

But while 80 per cent of Baby Boomers will avoid the day of love, only 47 per cent of Gen Ys will boycott it.

Finer.com.au money expert Bessie Hassan said Valentine's Day "felt like forced fun" for many people.

"Valentine's Day has been copping some backlash for a number of years now, which is not surprising considering the exorbitant mark-ups on everything from flowers to restaurants and chocolates," she said.

"But there are plenty of people who love celebrating the day. Consider going for dinner or celebrating it on another day - that way you'll avoid the set menus and marked up prices.

"Love it or hate it, Aussies will still spend an estimated half a billion dollars this Valentine's Day."

 

alexis.carey@news.com.au

Topics:  gifts love money restaurant valentines day



Missing swimmer on north coast, search underway

HAZARDOUS SURF: Surf lifesavers are pleading with the public to stay out of the water this weekend after one of the biggest rescue days occurred on Saturday and swimmer is still missing on the north coast.

Hazardous surf warning and one swimmer missing

Ute and truck smash on highway

CRASH RESCUE: At 2am on Sunday the Westpac Life Saver Rescue Helicopter was called out to a crash involving a ute colliding with a truck on the Pacific motorway near Brunswick Heads.

Pacific Highway blocked after ute and truck smash

Ferry return to service delayed

No Caption

Service will not resume as expected

Local Partners

Cost of having children soaring sky high

PARENTS-TO-BE have been warned that it’s now more expensive than ever to bring a child into the world, and competition among parents is driving up the price.

These are the sex capitals of Australia

Sex is in demand.

Data reveals surprise Australian suburbs where people want sex the most

Aussie couple road tests hotels by having sex in them

Justin and Jess have revealed their steamy hotel experiences.

They won a comp to share stories of getting lucky in hotel rooms

‘I have slept with 100 people’

The documentary is one person’s quest to track down their 100 past sexual encounters

Documentary counts down one person’s full list of sexual encounters

Pregnant Erin Molan hospitalised

Erin Molan has been announced as the new host of the Footy Show. Picture: Jonathan Ng

She collapsed, hitting her head on the ground

Botched jump led to years of hell

Hilary Judith nearly died in a skydiving accident. But that was only the start of the trauma.

Her body was reliving the accident, over and over again