We often hear of people talking about Valentine’s Day, saying that these days, it is simply a commercialised concept that is designed to make money, and that the idea behind it has long been lost. While this may be true to some degree, it’s still a wonderful day to celebrate your loved one, even if you do so all year round too.

However, in the interests of getting an objective overview of the money it generates, let’s take a look at how this day of love has become a real money spinner.

The 1^st Big Spending Day After Christmas

While many shops have huge Boxing Day sales and sales that last throughout January, by the time Valentine’s Day comes around in February, these are distant memories. That’s why you’ll see just about every shop advertise a Valentines special. From the hairdresser to the liquor store, and supermarket chains, everyone gets in on the action.

By promoting the idea of Valentine’s Day as when you need to give a gift, look your best for your special date or simply splash out and show you loved one how much you appreciate them, commercial entities can really rake in the cash for the first time since the festive season.

Inflated Demand and Inflated Pricing

We’ve all heard of the major price increases on bunches of roses around Valentine’s Day, with prices sometimes soaring as much as 200 to 300%, or more! Restaurants often offer special dinners too, and theatres and other venues capitalise on the day to make money and pull in the crowds. As there is a greater demand for flowers, restaurant reservations, weekend getaways and theatre tickets it does make sense that prices will rise, as people will be more prepared to pay an inflated amount just to ensure they get what they want for their significant other.

Of course, many people counteract this inflation by buying gifts early or booking dinners or event’s tickets for before or after the day to ensure they don’t pay over the odds, but not everyone is so savvy, and it shows! You may have to dip into your eSports betting Australia winnings if you were not ahead of the curve, and only buy gifts on the day.

Big Spenders and Money Spinners

Research has shown that in America, the average person spends $161.96 on Valentine’s Day. Times that by a population of roughly 327,2 million, and you’ll see just how enormous an industry the day of love is. And that is just in America…

When it comes to the most popular gifts, flowers are the most popular, followed by jewellery, candies, chocolates and greeting cards. Interestingly, gift cards have become a popular choice for lovers, and many people gift their partner a card that lets them select their own special gift, rather than choosing one themselves. Some may say this is a prime example of how the day has lost its romance, while others might argue that a gift card is a far better option as it stops people receiving gifts they really don’t want or need in the first place!