Love is a big business. You can invest time and effort into a relationship all year long, but in mid-February, all of that work won’t mean much if you can’t follow it up with some heart-shaped trinkets and treats to give to your significant other.
So, just how much money gets spent on Valentine’s Day? Well, the numbers may surprise you. In 2016, $19.7 billion was spent on gifts and events to celebrate the holiday. This was an increase of almost $1 billion from the year prior. All of this pressure to prove your affection through materialistic exchanges has left 61% of men feeling like Valentine’s Day has become a “Commercial Conspiracy”. And, in turn, 1 out of 3 men purposely avoid getting into relationships between Thanksgiving and Valentine’s Day so that they can skip the financial impact that the gift giving season can bring. Men already in committed relationships may not be too happy about it either. Calls coming into divorce lawyer’s offices increase up to 40% in February.
In other parts of the world, February 14th is celebrated much differently. For example, in Japan, only women give gifts to men. And, in Saudi Arabia, Valentine’s Day has been banned altogether!
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But which gifts get the most love? Going out to eat tops the list of most common gifts and accounted for $3.6 billion in spending last year. More than 3/4 of people feel like it is a man’s responsibility to pick up the check afterwards! Flowers and jewelry round out the top 3 and add another $6.9 billion to the Valentine’s Day ticket. Other money makers of interest include condom sales, which get up to a 30% bump in sales, at home pregnancy test sales increase, and dating websites pull in another $489 million in revenue.
Check out all the great Valentine’s Day information in this infographic from our friends at Divorce Lawyers for Men!