Happy belated Valentines Day!

2020 is a leap year, hence many people resolved that it was the women’s duty to purchase the gift on Valentine’s day this year. However, proposed statistics show that about 92 million men and 77 million women would purchase gifts over Valentine’s Day. In addition, about 36% of Americans would shop for more than one love interest, and 20% of Americans would purchase a gifts for their pet.

Valentines Days has evolved from simply gifting one person who is usually a love interest to gift family, friends, pets, and yourself. Statistics show that about 650 million co-workers were expected to receive Valentines Day gifts from their co-workers.

Different Generations

Millennials have been a generation to change many things in society, as should be with any generation. This comes with the time of increase in online purchasing and a decline in the demand for brick-and-motor-stores. More millennials purchased their gifts while about 40% of baby boomers purchased at brick-and-motor stores. About 52% of baby boomers did not purchase anything over Valentines Day.

How much was spent?

Valentines Day has increasingly become commercialized, with social media aiding with this. From Instagram videos of gift openings, baecations, and extravagant dining experiences, more and more Americans are prepared to spend a little more each year. This year the average American spent over $150 on their Valentines Day gifts. This means that Americans are predicted to spend over $50 billion on their Valentines Day gifts in 2020.