Valentine’s Day may be a commercial holiday, but at the end of the day, many couples agree that it’s nice to take one day to celebrate your love. Case in point? It’s an extremely popular day for proposals.
The latest American Express Spending & Saving Tracker consumer report surveyed Americans’ Valentine’s Day plans and found that six million couples are likely to get engaged on Feb. 14. That’s up from 4 million in 2012. The total number of engagements planned or expected for 2013 remains steady at 14 million.
Here’s some other stats about Valentine’s Day:
Increased Spending On Gifts
How much will you spend on your significant other this year? Eighty-three percent of couples plan on giving each other gifts and will spend $260 on average — up from $196 from last year. Men will spend an average of $272; women will spend $209. The most popular gifts include greeting cards (57 percent), flowers (32 percent) and jewelry (17 percent). Gift cards and cash are less popular gifts than last year — 21 percent will be gifting these, down from 26 percent in 2012.
Virtual V-Day Wishes
Valentine’s Day is going virtual — 62 percent of couples will utilize some form of technology or social media to share Valentine’s Day messages. Most will send a text (34 percent), 33 percent will send a Facebook post or message, 26 percent will send an email and 22 percent will send an e-card.
Average Cost Of An Engagement Ring
Those 6 million people planning to propose on V-Day better start saving: the average estimated cost of an engagement ring in 2013 is $2,410.
Valentine’s Day Overrated?
Everyone, breathe a sigh of relief. Valentine’s Day may not be as important to your partner as you think: 30 percent of women in relationships think the holiday is overrated.
Share with us your favorite thing about Valentine’s Day! Leave us a comment!