Millennials are driving Valentine’s Day spending. Spending power for Millennials this year is expected to reach $2.5 trillion—and they’re spending far for Valentine’s Day more than older generations. According to a Bankrate survey, 75% of 24-to-39-year-olds are planning to spend money on the romance-filled holiday. Because young adults are more likely to be in fresher relationships, they tend to feel the pressure to spend more to impress a partner, but many young consumers are also increasingly spending the day focused on friends and family. YPulse’s Valentine’s Day research found that were planning to spend an average of $201 on Valentine’s gifts for others and they’re spending far more for Valentine’s Day than older generations. (Bankrate)
