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Money What the average Aussie will spend on Valentine's Day

19:51  14 february  2018
19:51  14 february  2018 Source:   msn.com

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Australians spent more than million on Valentine ' s Day last year, new data from Commonwealth Bank reveals, and tomorrow’s outlay is expected to be even greater. " The average person over 66 will spend 6 on flowers, drinks and dinner on Valentine ' s Day , while younger couples aged 18 to

It found that men, on average , spend 3.10 compared to .54 for women during the Valentine ’ s Day period from February 1 to 14. Even across the different merchant types, men tend to spend more (per person) than women. The only major exception to this was movies, where women spend almost

Forget about a thoughtful poem or a delicate dish for your loved one this Valentine's Day: if you want to impress you'll need to splash the cash – about $136 to be exact.

Australians spent more than $23 million on Valentine's Day last year, new data from Commonwealth Bank reveals, and tomorrow’s outlay is expected to be even greater.

The lion's share of the cash was spent on Valentine’s Day staples: dinner ($13.6m), followed by liquor ($7m) and rounded out by flowers ($3.2m).

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Comparatively, the average Australian spent 9 on Christmas gifts just over a month ago. There's more than a good chance you'll be doted on by One third (33%) of Aussie newlyweds enjoyed a romantic night in on Valentine ' s Day 2016, while a few lucky couples (2%) sailed away on a short

Valentine ' s Day , also called Saint Valentine ' s Day or the Feast of Saint Valentine , is celebrated annually on February 14. Originating as a Western Christian feast day honoring one or two early

Commonwealth Bank's general manager of everyday banking and payments Michael Baumann said it was no surprise to see that love comes at a cost.

"With spend on Valentine’s Day rising 15 per cent on 2016, it’s clear that love doesn’t come cheap anymore," Mr Baumann said.

"Aussies looking to treat their partner with dinner, drinks and flowers should expect to splash out around $136 on the big day."

The most romantic demographic on Valentine's Day were millennials, with those aged between 26 and 35 accounting for more than a third of all florist and restaurant takings.

Compared to an average week day, florists experienced a 500 per cent increase in sales on Valentine's Day, according to the data.

Got a spare $136 lying around? © AAP Image Got a spare $136 lying around? Mr Baumann said that while millennials are more likely to celebrate Valentine's Day en masse, it's the baby boomers who tend to flaunt their wealth.

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From roses and jewelry to dinner and champagne, Feb. 14 can be a costly affair.

Call me a Valentine ’ s Day Grinch, but I don’t think I’m just being contrarian here. I don’t see a lot of equality in this love-inspired holiday. The NRF survey found that men spend nearly twice as much as women on Valentine ’ s Day . Informal polling of my male colleagues indicated an even wider

"That said, when the older generation do entertain on the big day, they do so in style.

"The average person over 66 will spend $206 on flowers, drinks and dinner on Valentine's Day, while younger couples aged 18 to 25 spend a more conservative $101 on average."

Those against rampant consumerism are still likely to buy a bottle of vino to mark the day, although expressions in love might come second to home renovations.

"For those staying in, liquor continues to fuel romance, with Valentine’s Day purchases increasing 8 per cent year-on-year," Mr Baumann said.

"Interestingly, the number of hardware purchases did outstrip the number of bouquets bought, indicating love doesn’t put a stop to handiwork."

The data also reveals that modern day chivalry is more often expressed with a MasterCard than a mace.

"Overall, men spend more than women, buying up 83 per cent of all flowers purchased on Valentine’s Day, and footing 70 per cent of all restaurant bills," Mr Baumann said.

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And the average amount that guys spend on satisfying their significant others? The NRF report reveals that this Valentine ' s Day consumers are expected to spend .6 billion on boxes of chocolate, plush hearts, wilting flowers, and battery-operated singing frogs, all likely purchased at pharmacies

In some countries, spending less per day than a Starbuck's coffee cost in North America would bankrupt a person and/or his family. How much does the average person spend on Valentine ' s Day ?

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