Money What the average Aussie will spend on Valentine's Day

19:51  14 february  2018
19:51  14 february  2018 Source:   MSN

Valentine’s Day sales predicted to rake in $1.09 billion this year

  Valentine’s Day sales predicted to rake in $1.09 billion this year Australian consumers are tipped to shell out an average of $43.61 on someone special this Valentine’s Day, with travel and accommodation spending expected to top the list for the romantic occasion.An IBISworld forecast predicts Australians will spend $1.09 billion on February 14 this year, with more than half of the sales boost, or $621.3 million, expected to come from couples looking to get away for the holiday by spending cash on travel and accommodation.Australians are tipped to spend approximately $89.

The average guy spends a fortune. We have a cheaper shopping solution. By Andrew Daniels February 11, 2012. New research shows that Valentine ' s Day comes with a price—and it ain't pretty.

Cat owners will spend just .9 million (an average of .11 per cat), perhaps because cat owners have long since accepted that the love of their pet However, while some Aussie pets will be lucky enough to receive a gift on Valentine ' s Day , there are animals around the world that aren't as fortunate.

Forget about a thoughtful poem or a delicate dish for your loved one this Valentine's Day: if you want to impress you'll need to splash the cash – about $136 to be exact.

Australians spent more than $23 million on Valentine's Day last year, new data from Commonwealth Bank reveals, and tomorrow’s outlay is expected to be even greater.

The lion's share of the cash was spent on Valentine’s Day staples: dinner ($13.6m), followed by liquor ($7m) and rounded out by flowers ($3.2m).

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This Valentine ’ s Day , smitten couples will splash out on fine dining and premium floral arrangements to celebrate their union, say business information IBISWorld General Manager (Australia) Ms Karen Dobie said the average person will spend on their partner with most people looking to lavish

Valentine ' s Day is synonymous with fancy dinners, boxes of chocolate and flowers -- but how much do love birds really spend on their significant others? That number is slightly higher than last year's average of 0.97. However, men plan to spend twice as much as women on gifts alone -- 8.38

Commonwealth Bank's general manager of everyday banking and payments Michael Baumann said it was no surprise to see that love comes at a cost.

"With spend on Valentine’s Day rising 15 per cent on 2016, it’s clear that love doesn’t come cheap anymore," Mr Baumann said.

"Aussies looking to treat their partner with dinner, drinks and flowers should expect to splash out around $136 on the big day."

The most romantic demographic on Valentine's Day were millennials, with those aged between 26 and 35 accounting for more than a third of all florist and restaurant takings.

Compared to an average week day, florists experienced a 500 per cent increase in sales on Valentine's Day, according to the data.

Got a spare $136 lying around? © AAP Image Got a spare $136 lying around? Mr Baumann said that while millennials are more likely to celebrate Valentine's Day en masse, it's the baby boomers who tend to flaunt their wealth.

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Here’s a breakdown of the average American’s Valentine ’ s Day spending Between paying for fancy dinners, boxes of chocolates, flowers, and candy hearts, Americans spend huge amounts on Valentine ’ s Day to celebrate their significant others.

What is the average amount of dollars spent for Valentine ' s Day ? The average person will spend about 0 on Valentine ' s Day . How much money is spent annually on Valentine ' s Day ? Americans spent an estimated .6 billion on Valentine ' s Day in 2013.

"That said, when the older generation do entertain on the big day, they do so in style.

"The average person over 66 will spend $206 on flowers, drinks and dinner on Valentine's Day, while younger couples aged 18 to 25 spend a more conservative $101 on average."

Those against rampant consumerism are still likely to buy a bottle of vino to mark the day, although expressions in love might come second to home renovations.

"For those staying in, liquor continues to fuel romance, with Valentine’s Day purchases increasing 8 per cent year-on-year," Mr Baumann said.

"Interestingly, the number of hardware purchases did outstrip the number of bouquets bought, indicating love doesn’t put a stop to handiwork."

The data also reveals that modern day chivalry is more often expressed with a MasterCard than a mace.

"Overall, men spend more than women, buying up 83 per cent of all flowers purchased on Valentine’s Day, and footing 70 per cent of all restaurant bills," Mr Baumann said.

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From roses and jewelry to dinner and champagne, Feb. 14 can be a costly affair.

Americans will spend billions in 2017 to celebrate Valentine ' s Day . Estimates from the National Retail Federation suggest that consumers who buy Valentine ' s Day presents will spend nearly 7 on average in 2017 for flowers, clothes, jewelry, candy and other gifts.

Pictures: Fascinating facts about Valentine's Day

Entrepreneur Kate Spade on when it’s okay to part ways with your business .
The renowned handbag designer who started multimillion-dollar label Kate Spade says no matter how hard you’ve worked to build a business from the ground up, there comes a time where it’s best to step away from it.Discussing their business story on NPR’s How I Built This podcast, Kate Spade, who now goes by Kate Valentine Spade, and her husband and business partner Andy Spade describe how they created the handbag empire from nothing in the 1990s, selling products from their New York apartment.

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