A whole lotta love: Aussies set to spend $1.1 billion this Valentine’s Day
They say you can't put a price on love, but Australians are tipped to spend big this Valentine's Day, according to new research by Finder.
A new Finder survey of 1,004 respondents has revealed that 1 in 3 Australians (34%) intend to spoil their loved one on 14 February, forking out $178 each on average at a national cost of $1.1 billion.
Aussies will spend almost $427 million on dining out, followed by $381 million on presents. Flowers ($110 million) and chocolates ($76 million) will also round out the list of Valentine's Day expenses.
In true COVID-19 style, the research also found that Aussies will spend around $127 million on dining in.
Kate Browne, personal finance expert at Finder, said that Valentine's Day has become big business in Australia.
"Aussies are now spending over a billion dollars on this Hallmark holiday, splashing out on everything from flowers to restaurants.
"The pandemic has also changed the way many of us are planning to celebrate – if you'd prefer to stay home, there are plenty of quarantine-friendly date night ideas to try, from meal deliveries to virtual wine tasting," Browne said.
Men are expected to spend the most on their significant others, forking out around $210 each on average, compared to just $134 for women.
Millennials are the most generous lovers, spending around $238 on average compared to just $104 for Baby Boomers.
The research also found that around 39% of Australians are in a relationship but don't celebrate Valentine's Day, while the remaining 28% are single.
Browne urged Australians not to blow the budget this February.
"You can still create a romantic evening without your bank account taking a hit.
"Something as simple as going for a romantic walk or having a backyard picnic is meaningful yet affordable.
"There are countless ways you can show your partner that you care without having to spend up big," Browne said.
| How do you plan on celebrating Valentine's Day this year? | |
|---|---|
| My partner and I don't celebrate Valentine's Day | 39% |
| Treating my partner with dinner, gifts etc | 34% |
| I don't have a partner and don't plan on celebrating | 28% |
Source: Finder survey of 1,004 Australians in January 2021
| How much do you spend on Valentine's Day for your partner? | |
|---|---|
| Dining out | $64.60 |
| Dining in (at home) | $19.30 |
| Flowers | $16.80 |
| Presents | $57.70 |
| Chocolates | $11.60 |
| Other | $8.00 |
| TOTAL | $177.90 |
Source: Finder survey of 1,004 Australians in January 2021
Affordable ways to celebrate this Valentine's Day:
- Go for a picnic. Pack a bag with your favourite deli snacks and a bottle of wine and head outdoors for a romantic meal.
- Have breakfast in bed. This will be cheaper than heading to your local cafe – and you get to stay in your pyjamas.
- Netflix and chill. Ditch the cinemas in favour of a wallet-friendly movie night at home.
Visit Finder's Valentine's Day hub for gift ideas and things to do this February.