Singles Vs. Couples: Average Amount People Spend for Valentine’s Day in Sioux Falls
Valentine's Day. For many, its an official holiday to celebrate love and the one they're with. For others, its a meaningless day made up by card and candy companies to make money.
Whether you have someone to celebrate with or not, chances are you may be buying something for either yourself or someone else on February 14.
According to a study by Bing, Valentine's Day is the fourth-largest spending day of the year, with total sales accumulating almost $19 billion. So how much are people spending on average?
The research says that nationwide, on average, 55 percent of people will celebrate this year, spending $142 on average. Money is dished out for significant others, but also for co-workers, family and friends, and even pets.
When I asked people in Sioux Falls what they would spend, the most common answer was $150.
When looking at how singles spend money compared to married couples, here are the numbers:
- Those who are in a relationship but not married spend an average of $107
- Married people spend an average of $96
- Single men spend an average of $71
- Single women spend an average of $40
When looking at men vs. women, the ladies obviously take the day way more seriously. 53 percent actually say that they would end a relationship if they didn't get something special on the holiday, which is probably why men tend to spend more if they are going to.
Men spend almost twice as much on average as women do, shelling out $133. Women spend much less, around $62.
Bing also found that people also spend money on people other than their significant other. People will spend around $54 for a coworker, $50 for their family, and $26 for pets.
In fact, the study found that in 2016, about $681 million was spent on Valentine's Day specifically on gifts for pets.
For the full study, including what gifts people spend the most money on, here's a slideshow that includes all data discovered by Bing: