London - Back in the day buying a card, or a box of chocolates or even a bouquets of flowers was the norm for most couples on Valentine's Day, with 1 in 3 adults participating in the holiday each year.
However, over the years the amount couples spend on each other during this romantic day has increased to approximately 1.3 billion pounds, according to data from OnBuy, as the average spend continues to increase 1 million pounds year on year.
UK male consumers spend more than women's during Valentine's Day
New data shows that men still outspend women when its comes to buying their significant other a romantic gift. Men in the UK are said to spend 35 pounds on average on their partner's gift during Valentine's Day, with 1 in 10 spending up to 75 pounds or more. Men between 25 and 34 are thought to be the most generous of them all, spending 33 pounds on their partner on average.
Women on the other hand are expected to spend 20 pounds on average, with 1 in 3 women spending less than 10 pounds on their loved one's gift. Statistics from 2015 indicate that men in the UK spent a total of 622 million pounds compared to the 354 million pounds women spent, highlighting the difference in spend and sentiments towards the romantic holiday. 13 percent of women state they only celebrate Valentine's Day just because "everybody else does."
In addition, women tend to be seen as savvier shoppers and are more likely to buy gifts in advance or take advantage of any deals. 80 percent of the 2000 women and men surveyed by Onbuy added sales were crucial to buying gifts. Fashion and accessories also remain popular gifts for Valentine's Day as the three most popular sales items purchased for men were shirts, jumpers and aftershave and for women lingerie, handbags and dresses.
Valentine’s Day can definitely divide opinion, and can cause many couples – old and new - a lot of gift-related (or lack of) stress," commented managing director for OnBuy, Cas Paton. “My advice would be not to panic-buy, plan in advance and keep alert for any secret hints your partner may be throwing your way over the next few weeks."