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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' The average person over 66 will spend 6 on flowers, drinks and dinner on Valentine ' s Day , while younger couples aged 18 to 25 spend a more conservative 1 on average ,' Mr Baumann said. She's got Aussie style!

Comparatively, the average Australian spent 9 on Christmas gifts just over a month ago. 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 cruise.

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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The signs all proclaim “Happy Valentine ’ s Day !” Subtext: “Buy lots of our stuff! According to the National Retail Federation, the average American will spend 6.03 on Valentine ’ s Day this year. That’s the highest amount since the survey started ten years ago.

How much money was spent on Valentine ' s Day in 2000? 17.02 billion. Share to: What can you buy your girlfriend for Valentine ' s Day with 5 dollars? How much does the average person spend on Valentine ' s Day ?

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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Cat owners will spend just .9 million (an average of .11 per cat), perhaps because cat owners have long since accepted that the love of their pet However, while some Aussie pets will be lucky enough to receive a gift on Valentine ' s Day , there are animals around the world that aren't as fortunate.

New research shows that Valentine ' s Day comes with a price—and it ain't pretty. And that hefty chunk of change isn't going to spouses only; the report says the average person will spend on their children, on their friends, and .50 on their pets.

"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.

Valentine’s Day sales predicted to rake in $1.09 billion this year

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Rising Tide Financial Services’ managing director Chris Browne said there’s no need to go overboard on how much you spend on Valentine ’ s Day .Source:Supplied. How banks swallow up Aussie aid to families abroad. How much it really costs to call an ambulance.

Men are more apt to splurge than women, and single people, just over half of whom said won’t let being unattached stop them from celebrating Valentine ’ s Day , will spend an average of —probably on a night out

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Kim, Khloe and Rob Kardashian Spend Valentine's Day With Mom Kris Jenner and Jada Pinkett Smith: Pics! .
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