Americans Digging Deep For Love - Other News

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Credit Card Applications » News » Other » Americans Digging Deep For Love

Americans Digging Deep For Love

Americans Digging Deep For Love
February
13
The content is accurate at the time of publication and is subject to change.

Chocolate prices may be going up for Valentine’s Day, but according to a new study it’s not getting in the way of love. Sweethearts are spending more this year on everything from chocolate and flowers to engagement rings.

The new American Express Spending & Saving Tracker shows that the economic upswing has freed people up to follow their hearts, with 14 million Americans expecting to get or make a marriage proposal on February 14th.

Even if wedding bells aren’t calling, 76% will be heading to the stores for some holiday shopping. On average they plan on spending $296, nearly 40% more than they did last year. Nearly half of the respondents said that they thought it was essential to celebrate their relationship (49% vs. 35% in 2014).

What will they be picking up? Old standards are still in style:

Flowers (56% vs. 54% in 2014)

  • Greeting card (48% vs. 57% in 2014)
  • Jewelry (27% vs. 24% in 2014)
  • Gift card (21% vs. 14% in 2014)

Love American style

Men are feeling particularly romantic, and are pulling out all the stops with an average budget of $380, up 28% from last year.  Nearly half of the men said that they thought it was essential to celebrate their relationship (49% vs. 35% in 2014).

While men are definitely taking Valentine’s Day seriously, women are a bit more casual about the holiday with just a third saying it’s a time to celebrate their relationship. Many women said that while it’s a fun holiday, it’s not a big deal.

What’s in store?

 Men are in charge with 57% planning the festivities, whether that means a romantic dinner, a movie night or a twirl around the ice skating rink. Just 40% of women are taking the lead this holiday.

 Trolling shops looking for the perfect gift is a must for many, but there are other plans in the works too.

table

The American Express Spending & Saving Tracker was conducted January 15 to 18, 2015, online with 1,713 adult participants.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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