MORGANTOWN, W.Va. – RetailMeNot, an online coupon company, compiled Valentine’s Day shopping data for this year. The data found that over one in three (61%) people in a relationship will be purchasing a gift for their partner this Valentine’s Day. The number is down from 69% in 2020.
However, the amount they are willing to spend nearly doubled from last year, with the average being $163 compared to last year’s $83. According to the site, Americans are willing to spend a little more if they have been in the relationship longer. If the pair have been dating for more than two years, the average a person would be planning to spend is $156. That number almost triples to $467 if the couple has been married for more than 10 years.
The site found that majority of consumers are planning to purchase chocolate for their sweetheart (39%), followed by dinner at a restaurant (35%) and investing in an experience (14%). With COVID restrictions still in place, the percentage of couples who plan to go to a restaurant or have an experience has halved. Last year, 61% planned to go to a restaurant and 35% planned to gift an experience in 2020.
A little more than half of those who plan to buy a gift (53%) will be doing last-minute Valentine’s Day shopping, waiting until the week of the holiday to grab the gift, but what is the perfect gift to give your loved one this Valentine’s Day? RetailMeNot said a little less than half of the Americans surveyed (44%) are hoping that they will receive chocolate, making it the most popular gift.