Millennials are spending big for Valentine’s Day this year. According to the National Retail Federation, older Millennials (35-44-years-old) plan on spending an average of $336 for Valentine’s Day while younger Millennials (25-34-year-olds) plan on spending $238. While the majority (57%) will be buying candy, young consumers are looking at gifts beyond chocolates, too: 40% will buy greeting cards, 37% flowers, 32% an evening out, 21% jewelry, 20% gift cards, and 19% will buy clothing. YPulse’s recent Valentine’s Day report data shows that 56% of Millennials are planning to buy a gift for the occasion, compared to just 46% of Gen Z, and they’re planning to spend more on average for each gift they’ll buy than the younger gen. (CNBC)
