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|August 24, 2019|
Who has the higher expectations for Valentine’s Day?
Love is in the air, but can your wallet handle it?
Bankrate's 2019 Valentine's Day survey finds that consumers are expecting to shell out big for Feb. 14.
Respondents reported an average spending expectation of $267.
While that may seem like a large figure, it's still much less than the average cost of a complete Valentine's Day gift-giving affair. According to Bankrate's Be My Valentine Index, an all-out celebration of love this year - complete with jewelry, Champagne, fine dining and chocolates - will put consumers back an average of $618.
While Valentine's Day is meant to be a mark of love, the holiday has become one of the priciest holidays in the country. The National Retail Federation forecasts consumers to spend $20.7 billion on Valentine's Day this year, the most since 2016's record high of $19.7 billion.
As the holidays become a distant memory and the winter months drag on, it's likely consumers are looking for a reason to celebrate.
Men will spend more - and expect their partners to spend more on them
When it comes to who's expecting the most lavish holiday, men have set the bar high.
Male respondents in Bankrate's survey plan to spend an average of $339 on their partners for the romantic day. Women will spend significantly less, saying they expect to spend an average of only $64 on their partners.
Story Date: February 11, 2019