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13th Feb 2014

Savvy Spenders, or Romantic Cheapskates? The Average Amount We Spend on Valentine’s Day

It seems like romance gestures are the latest victim of our spending cutbacks...


If you’re disappointed about missing out on a gift this Valentine’s Day… don’t be. 

According to new research, more than half of Irish people (51%) who are in a relationship plan to spend less than €20 on Valentine’s Day this year. Of that 51%, half (25% of total) plan to spend nothing at all.

It’s not all bad news on the romance front however. If you are still looking for Romeo, research has revealed that he does exist and he is under 35 – 86% of males under 35 will go the extra mile this Valentine’s Day, planning to spend money on gifts and meals for their loved one.

The research, carried out by Amárach Research on behalf of permanent tsb as part of their Switching Index also shows that:

  • Meals out are the top choice for Valentine’s Day treats at 22%, closely followed by cards (19%) and meals at home (18%), with just 2% choosing to purchase jewellery.
  • Women under 35 are the most likely to expect their partner to pay for dinner on Valentine’s Day.
  • Just one in five of Irish people in a relationship (19%) will spend €50 or more on Valentine’s Day this year.
  • Over a quarter of consumers switched to doing their grocery shopping in a discount retailer last year, in order to save money
  • One in four consumers say they plan to create a household budget next this year, in order to manage their finances

Commenting on the findings, Gerard O’Neill, from Amárach Research said: “The research tells us that the Irish public are reducing and even eliminating spend on luxuries, like gifts and meals out for Valentine’s Day, as a main money saving tactic. The reality is that if consumers adopted a more proactive approach to shopping around for better value on their household bills, including their current bank account, they could afford to go the extra mile on Valentine’s Day with a luxury purchase for their loved one.”

To be fair, we’re all for being a bit savvy with the spending. A nice card with a well-put message will do the trick lads… we’ll get you one too.