A 2017 report by Eventbrite noted that three out of four millennials in the U.S said they would rather spend their money on an experience than purchase a physical item. This is compared to 53% of the same age group, who prefer to give their partners candy/chocolate as a valentine present, 33% prefer flowers, 11% jewelry, 19% clothing, and 16% gift cards.
Valentine’s Day Gifting – United States
Millennials Creative Nature
- According to a report by Xperience days, millennials tend to stick to their creative nature, with a reasonable number of them choosing to give their special ones experience gifts.
- YPulse opined that date nights tops the list of gifts that young consumers say they’d like to get, evidence of their experience-focused mentality.
- As reported by YPulse, half of the young people aged 13-36, and 57% of 18-36-year-olds, told us they think they’ll be going on a date for Valentine’s Day.
- Xperience Day’s survey shows that 26% of Americans (millennials) aged 18 to 29 give their partners experience gifts. In comparison, many of them choose memorable events such as evening outings (64%) and proposals (1%).
- A 2017 report by Eventbrite noted that three out of four millennials said they would rather spend their money on an experience than purchase a physical item.
- This is compared to 53% of the same age group, who prefer to give their partners candy/chocolate as a valentine present, 33% prefer flowers, 11% jewelry, 19% clothing, and 16% gift cards.
- The recent popularity of experiential gifts among millennials is attributed to the presence of social media. The ability to record and remember the experiential gift – making it ‘permanent’ – appears to hold more value than receiving something that is simply physical.
- Another factor driving experiential gifts is the demand to create long-term happiness.
- Research by Cornell University indicates that sharing an experience with people have a greater likelihood to create more long-term happiness than simply giving them a smartphone.
Older Millennial’s Spending
- According to the National Retail Federation, older millennials represent the biggest-spending age group on Valentine’s Day.
- In 2018, U.S millennials aged between 25-34 planned on spending an average of $202.76, compared to an overall average of $143.56. This equaled a total of $19.6 billion.
- As of 2020, U.S. adults between the ages of 24 and 39 were expected to spend about $208 on Valentine’s Day present, compared to $152 reported by the typical adult.
- This is also higher than their older counterparts, with $160 for Generation X, $101 for baby boomers, and $43 for the silent generation.
- A Harris Group study opined that 72% of Millennials prefer spending money on experiences rather than things.
- They were also 18% more likely than the average adult to gift an experience instead of an item.
Valentine’s Day Gifting – Germany
- Valentine’s gifts in Germany are in the shape of love tokens, with lovely messages.
- Lovers will exchange not only chocolates, flowers, and heart-shaped gifts, but something special for this celebration a pig.
- This pig represents luck and lust and can be given in the form of a statue, chocolate, or how one sees fit.
- According to a survey by Statista, 88% of women and 72% of men in Germany think a romantic dinner is appropriate for Valentine’s Day.
- Other memory/experienced-focused present identified by Germans include a personal letter (78% women and 55% men), handmade items (73% women and 51% men), a voucher for shared activity (70% women and 47% men), and a trip/shot trip (58% women and 44% men).