The cost of loving: Brits set to spend over £2bn on Valentine’s Day
- Average Brit to spend £65 on celebrations
- Two in five admit that their plans have been affected by the cost-of-living crisis
- Over two-thirds will celebrate at home instead of going out
- Essential items and handmade crafts are popular choices for gift
Half of us (50%), according to a new study from TopCashback will be celebrating Valentine’s Day this year.
The average amount Brits spend to celebrate their love is £65 per person. £2.2bn as a nation includes everything from food to gifts and flowers.
The cost-of-living crisis has affected Valentine’s Day plans
At the same time, almost two in five (38%) admit that the cost-of-living crisis has affected their Valentine’s Day plans. In fact, one in seven Brits (13 per cent) are hoping to celebrate without spending anything at all. Meanwhile, one in five (21%) of those who opted out of celebrations said this was because they can’t afford to do anything.
Over two-thirds (67 per cent) of those who plan to mark the occasion will do so at home. 40% say that eating out is getting too expensive, so they have decided to stay in.
The most popular Valentine’s Day plans when it comes to food
- cooking a meal at home (62%)
- buying a meal deal from the supermarket (19%)
- ordering a takeaway (16%)
1 in 6 is opting out of gift-giving this year
There is an almost equal split between Brits who plan on buying their partner a Valentine’s Day gift and those who prefer to save the cash. One in six (15%) of those opting out of gift-giving this year said this was because they don’t have the money to buy presents.
One in six (11%) Brits plan to gift these to their other half
Unsurprisingly classic presents like chocolates and flowers continue to be the most popular gifts. More than half (57%) of those celebrating Valentine’s Day planning to buy these. Interestingly, this year, handmade presents and essential items have also made the list.
“Whatever you do this Valentine’s Day, if you are keen to celebrate without breaking the bank, be sure to do your research and find the best deals before purchasing. Retailers tend to have great seasonal offers ahead of the big day, and you can also recoup some of your spending by shopping through a cashback site like ours.”
Adam Bullock, UK Director at TopCashback
Top Tips for Valentine’s Day
Valentine’s Day can sometimes be pressurised for couples and even those of us who are single. It’s important not to put pressure on your partner on Valentine’s Day. Many people have different ‘love languages’. For some people spending time with their loved ones is what they value. Others may value physical gifts or experiences. Don’t judge your partner for what they decide or not to decide to do.
1 Communicate with your partner, and set expectations
Tony Robbins often says that we are often disappointed because of our expectations. Talk to your partner and discuss how to spend the day together, or plan another time to connect if you can’t spend the day together.
2. Do not spend more than you can afford
Only spend what you can afford on Valentine’s Day. What matters the most is your relationship.
3. Think of a fun way to celebrate other than sharing gifts
You don’t need to buy expensive gifts to show someone you love them. Find out what your partner’s love language is. It might be sharing an experience or receiving a personal gift.
