Seems you can put a price on love: Valentine’s Day spend drops 9.3%
Maybe things aren’t feeling too romantic at the moment out there, or maybe it’s just that budgets are tighter, but Australian Valentine’s Day spend dropped by 9.3% this year across the nation.
This is according to data released by Nielsen Consumer and Media View, who sampled almost 30,00 Australians, 14 and over. This is a self-reporting study, so the figures may be bloated – but the average spend was down across all states yesterday.
Men in Canberra, aged between 18 and 25, were the biggest Valentine’s Day spenders, splashing out an average of $172 each, followed by Victorian males aged 40 to 54, then South Australian males aged 25 to 39 with average spends of $143 and $142 respectively.
25 to 29-year-old males in NSW spend an average of $132, ahead of the state’s 14 to 17-year-old males by just one dollar.
Northern Territorians spend the least — $98 — but have bucked the national trend, with spend up by $9 this year.
Maybe it’s a result of the day being marketed a lot less. A separate study from ecommerce marketing company Omnisend, found that only 22% of online businesses launched a Valentine’s Day campaign in 2023, with only 10% sending messages to their customers on Valentine’s Day.
“This trend of companies deciding to skip Valentine’s Day is not new,” says Greg Zakowicz, senior ecommerce marketing expert at Omnisend.
“In fact, our data shows that as far back as in 2020 only 18% of businesses had messaging around Valentine’s Day.
“However, this is a huge loss, especially for online businesses. Valentine’s Day is a great occasion to offer some personalised deals to your customers, and improve loyalty, along with making some sales.”
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Nathan Jolly is the Features Editor at Mumbrella. He joined the team in July, 2023.
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Remember back when there were pages of Valentine’s messages in the dailies!
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