Consumer Behavior

Not everyone is getting a Valentine's Day gift this year

Photo by istock.com

February 11, 2021

While some reports reveal Valentine's Day shoppers are likely to spend more this year than last, one survey claims 40% of American consumers won't spend a dime.

Almost four in 10 in a relationship are skipping the love day this year to save money, according to an online LendingTree survey conducted by Qualtrics.

It's likely not to be a popular move as one in seven in a relationship said they'll be upset if their partner even suggests forgoing gifts.

Additional findings include:
• Men are more likely than women to say they're skipping to save money, but women are twice as likely to say they'd be upset if their partner suggested doing this.
• 38% of partnered consumers said they might take on credit card debt due to their Valentine's Day spending this year. Of that group, 30% will hide that debt from their partner.
• Women are more likely to say they'll spend less on Valentine's Day this year than last. The survey reported that a partner in a relationship will spend an average of $144 on their significant other this Valentine's Day, and men plan to spend more than women ($181 versus $94).