etailMeNot (www.retailmenot.com), a leading digital offers destination that helps consumers save money, recently conducted a survey with Kelton Global that found 3 in 10 people in relationships wait until the last minute to make Valentine's Day arrangements. These survey findings align with internal data from RetailMeNot showing that online searches for chocolates, jewelry and flowers spike on the day before and day of the holiday. Luckily, for the majority of couples, the day of love and romance isn't an afterthought. On average, partnered Americans start thinking about plans 11 days in advance of the holiday.
"According to the survey, 80% of partnered Americans expect to receive something from their significant other to celebrate the occasion, so partners would do well to start shopping early!" says Sara Skirboll, shopping expert for RetailMeNot.
Great Expectations
Coupled individuals who plan to spend money on Valentine's Day will spend an average of $93 dollars on gifts. Men expect to outspend women, shelling out $113 versus $70 on gifts. Among partnered Americans who expect something for Valentine's Day, these are the most wanted gifts:
- Dinner, please: 52% of people expect a meal
- Sexual healing: 51% foresee sex in their February 14 future
- A Hallmark holiday: 44% expect a physical card
- How sweet: 36% expect candy or chocolate
- Love in bloom: 34% expect flowers
- Bling, bling: 17% expect jewelry
- Digital devotion: 17% expect a text message
Last-Minute Love
Shoppers should plan ahead, because RetailMeNot found the best time to buy some Valentine's Day gifts are sooner rather than later:
- Flowers shouldn't be last minute: Plan to purchase flowers online during the first two weeks of February as retailers like 1-800 Flowers and FTD.com offer the highest percent off during those weeks.
- Buy chocolates strategically: The second week of February is one of the best times to purchase luxury chocolate from Godiva since the brand offers rare percentage-off discounts during this time period.
- Lingerie: RetailMeNot 2015 data shows that lingerie is discounted as deep as 43% off 10 days before Valentine's Day.
To browse discounted gifts and offers, visit the RetailMeNot Valentine's Day page: www.retailmenot.com/deals/valentinesday
The Cost of Love: Not All Relationships Are Created Equally
RetailMeNot held up a magnifying glass to the true cost of romance to see how much people are willing to spend on first dates,Valentine's Day gifts and that swipe right on Tinder.
If you're gearing up for a first date, be aware that only 16% of people believe that the bill should be spilt evenly on the first date. Nearly half (49%) of survey respondents think men should pay, and men don't disagree. In fact, more men than women believe they should foot the bill on a first date (59% versus 38%). A third of people (33%) think whoever initiated the date should cover the cost.
Additionally, how and where people originally met affects how much they are willing to spend on a date. When it comes to relationships spawned via an app or dating site, people tend to cheap out on the first date. Dates initiated offline lead to more money spent. The average amount consumers would be willing to spend on a first date based on how they met the person is as follows:
- Mobile-dating app (e.g. Tinder or Bumble): $19.20
- App that links you up with mutual friends (e.g. Hinge): $23
- Online dating site (e.g. Match.com): $24.30
- In a social setting (e.g. bar): $35.20
- Through work, among those employed: $44.40
- Through mutual friends or relatives: $46.10
While the cost of dating seems high, the cost of commitment is even higher. According to the survey, more than a third of people (36%) think marriage is the most expensive stage of a relationship. It may pay to fly solo, as only 9% said being single is the most costly state of being.
No matter your relationship status, there's still cause to celebrate. In fact, according to a 2015 RetailMeNot survey nearly one in four (24%) people celebrate Valentine's Day regardless of whether they are in a relationship.
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