14 February 2022
With the most romantic day of the year just around the corner, an ASB survey has revealed men and women have markedly different Valentine's Day spending expectations.
The survey suggests men are putting a higher price on love this year with 27 percent of those surveyed planning to spend more than $150 on gifts for their significant other while only nine percent of women planned to spend that much on a partner. In fact, a third of women said they intend to spend no more than $50 on Valentine's gifts this year compared to just 25 percent of the men surveyed.
More than 2,000 ASB customers nationwide took part in the bank's 2022 Valentine's Day survey, answering questions about their plans for February 14. Close to a quarter of those surveyed intend to celebrate Valentine's Day, with another quarter still deciding whether to mark the day.
Date nights, whether at home or away, are the number one way most respondents plan to celebrate this year, with 77 percent opting for time together. Just over a third said COVID has resulted in a change of plans, and they are now no longer planning to go out to celebrate Valentine's Day.
Those intending to give gifts were most likely to stick with the traditional flowers and chocolates, but experiences such as a trip away or a massage were also a popular choice (12 percent).
When it comes to finding the perfect gift, two thirds of respondents said they'll shop in store this year and 40 percent intend to pay for their Valentine's gifts using their credit card.
Gen X are the most likely to pay a premium for their gifts, with 55 percent spending more than $75 this year. Similarly, 52% of Boomers say they'll spend the same amount. Less than half of Millennials (48%) intend to spend over $75. Love is cheaper for Gen Z, with just 39% saying they're intending to spend $75 or more this year.
Note to editors:
2027 ASB customers took part in ASB's Valentine's Day survey. 57 percent of respondents identified as female and 43 percent identified as male. The survey did not ask about sexuality and included responses from all over New Zealand and reflected the views of participants 15 years and over.