February 14, 2016
As couples young and old cuddle up for another special Valentine's Day, or as the singles out there carry on with their heads held high, it's worth taking a moment to remove the rose-tinted glasses and examine some of the stats behind the holiday dedicated to celebrating love.
A breakdown of the numbers, compiled by Fortune, shows that Americans who observe Valentine's Day, so to speak, take it pretty seriously compared to the rest of the year's holidays.
The National Retail Federation estimates that Americans will spend a total of $19.7 billion this Valentine's Day. The most popular purchases are a box of chocolates, diamond earrings, a dozen roses, a romantic dinner, and a bottle of champagne, according to an analysis by Bankrate.
How does individual spending stack up compared to some other big holidays? This year, the average American celebrating Valentine's Day spent $512. That's more than the $74 we usually spend on Halloween and $173 we spend on Mother's Day, but less than the $806 Christmas bill.
Demographically, people between the ages of 25 and 34 are most likely to celebrate Valentine's Day, at 64.3 percent. After them, it's 18-24-year-olds at 58.6 percent followed closely by two groups, 35-44 and 45-54, at 58 percent even. In terms of income level, it's a much easier to feel the love when you make more than $50,000 per year. Less than half of Americans who earn under $50,000 celebrate Valentine's Day, at 47.1 percent compared to 61.7 percent participation among those who make more than $50,000. The gender difference is a slim margin: 53.1 percent of men participate compared to 56.3 percent of women.
For those who are single, however, it's a bit easier to find a date if you're a man than if you're a woman. According to statistics from the U.S. Census Bureau, 44 percent of Americans over the age of 18 are single. Of those 105 million people, 53 percent are men and 47 percent are women. Even so, a WalletHub analysis of Valentine's Day found that half of those who are single, male and female, are proud of their relationship status. In fact, 24 percent of people buy themselves a gift for good measure.
In a separate Valentine's Day list, WalletHub ranked Philadelphia 95th among 100 cities in terms of the holiday's local appeal, finances and activities. We'll let you be the judge of that.
