Valentine’s Day is this weekend, and we’ve got the stats on what Millennials are feeling, and spending, for the holiday…
February 14th is this weekend, and Millennials are apparently going to be the big heart spenders. A recent study on finance and relationships revealed that 18-34-year-olds are planning to spend an average $290 on Valentine’s Day activities—almost $100 more than older respondents.
In a recent Ypulse monthly survey of 1000 13-33-year-olds, we asked Millennials all about their plans—and how they feel about the holiday. We know that chocolate and candy are at the top of their shopping lists, but we’ve got even more data on who they’re buying for, how much they’re spending, and how they feel about the occasion. Here are five things we found out:
1. Half of Millennials will be buying gifts for Valentine’s Day.
50% of 18-33-year-olds are buying someone a gift this coming Valentine’s Day, so a huge amount of the generation will be spending on and before the 14th. The odds of purchasing a gift increase with age, and 25-33-year-olds most likely to say they’ll be celebrating Valentine’s (59%) and buying a gift (56%). Males might be spending more (see below) but females are more likely to be giving gifts, with 50% of 13-33-year-old women saying they’ll be giving a Valentine token this year.
2. Mom is their (second) Valentine.
Unsurprisingly, significant other/spouse is the number one person on their Valentine’s shopping list—but mom is number two. Of those who are giving a gift, 40% of 13-17-year-olds and 18% of 18-33-year-olds are buying for mom. Dad is not so lucky: only 10% of 13-33-year-olds overall will be purchasing a Valentine for him.
3. Guys are spending way more for February 14.
Males are the bigger spenders for the 14th, telling us that they predict they’ll spend an average of $342.87, compared to females’ $118.08. They might be spending more because they believe it’s expected of them. On the other hand 58% of males 13-33-years-old say they don’t really care about Valentine’s Day, and 64% think Valentine’s Day is only enjoyable if you are in a relationship.
4. The majority think Valentine’s Day is overrated.
Though half (49%) tell us they plan to celebrate Valentine’s Day, 61% say they agree that it’s an overrated holiday. That’s not the worst thing they think either—29% of 13-33-year-olds say they avoid going out in public on Valentine’s Day, and 26% say the holiday makes them feel sad. Only 31% agree that Valentine’s Day is something they look forward to…there might be a missed opportunity for some anti-Valentine’s marketing.
5. The holiday might be more about appreciation than romance for them.
So why do so many say they’ll be celebrating the holiday? They might see it more as a moment to show thank you than a day to say I love you: 70% of 13-33-year-olds agree that Valentine’s Day is a great time to show appreciation to a loved one.