Generation Z Splurges on Valentine's Day
Photo by Jane Biriukova / Shutterstock.com
Men born before 1964 typically do not spend money on Valentine's Day gifts, while those belonging to Generation Z spend more than three times as much as on an average day, according to a survey from Erste Bank, writes profitline.hu.
On the day known as the holiday of love, customers spend an average of 16% more than an average day in January.
Examining debit and credit card purchases, the bank found that consumers spend 66% more than usual on restaurants, flowers, and underwear.
Men's Valentine's Day spending is almost double that of January, and members of Generation Z (born between 1996-2010) spend 355% more on romantic gifts.
Members of the generation born before 1964 typically do not spend on Valentine's Day, while those from Generation X, today's 42-58-year-olds, already pay more than 50% more for this purpose.
Meanwhile, the Millennial generation, born between 1980 and 1996, spends almost twice as much as before.
ADVERTISEMENT
POPIHN Raises Forecast for Fuel Consumption
Hungarian Lawmakers Ratify Finland's NATO Accession
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
