Valentine’s Day spending statistics 2020
Who are UK consumers spending their money on this February 14th?
The day of love is fast approaching on 14 February, with many of us celebrating by spending money on our significant others, beloved pets and even ourselves. It’s safe to say that Valentine’s Day has grown to become a special day all over the world. But, how much does the day really cost?
Over 32 million (61%) Brits will be spending money on their loved ones this Valentine’s Day and a further 9.4 million will celebrate 14 February without spending anything.
Change over time
4 in 5 Brits (79%) plan to celebrate Valentine’s Day in 2020, up from 69% in 2018. We’ll also be spending more on average this year, with the average spend of £35 per person being a 23% increase (£7) from £28 in 2018. However, more of us plan on celebrating without spending any money – 18% will do so in 2020, compared to 16% in 2018.
Of those who will celebrate Valentine’s Day this year, men look to be the bigger spenders. Guys plan to spend around £44 on average, compared to £26 for women. Men were also almost 3 times more likely to spend serious cash, with 9% planning to spend more than £100. Only 4% of women planned to spend the same.
Ladies are more likely to be celebrating Valentine’s Day without spending any money, with 20% of female respondents planning on leaving the wallet behind on 14 February, compared to 16% of men. The same percentage of men and women (21%) reported they would not be celebrating Valentine’s Day this year.
London is the UK’s most romantically minded city, or at least its biggest-spending, with those in the capital planning on spending £52 on average this Valentine’s Day.
At the other end of the scale, the South West of England has the lowest average spend at £28. Those in the South West must be hoping the Beatles maxim that money can’t buy you love holds true, with 22% planning on celebrating Valentine’s Day but not paying a penny to do so.
The East Midlands is the region with the most people who won’t celebrate Valentine’s Day, with 26% of residents reporting that they won’t be celebrating the day at all. Those in Northern Ireland are the most likely to be out and about on 14 February, with 87% planning on celebrating Valentine’s Day this year.
Millennials will be the UK’s highest-spending generation this Valentine’s Day, forking out £42 on average on their loved ones. This is followed by gen X (£38), baby boomers (£30) and gen Z (£27).
The silent generation are the lowest spenders, averaging £12. They’re are also the least likely to celebrate Valentine’s Day, with only 58% planning on doing so. But the silent generation are also the most likely to celebrate without spending any money (30%), followed by baby boomers (21%) and millennials (17%).
- A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.
- The research was conducted in January 2020.
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