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.
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