Love-struck Aussies opened their hearts (and wallets) to celebrate their significant others this week as Valentine’s Day rolled around once more.

The average Australian is estimated to have spent $111 on gifts for their partner this past Monday, research from Roy Morgan and the Australian Retailers Association (ARA) has found.

Cumulatively, the nation’s lovers forked out an expected $415 million, with almost 40% of that being spent on flowers alone.

Alcohol and food (especially chocolate) are believed to have made up a further 28% of that spending, while jewellers received 9% of that money.

And while many Australians were eager to show their affection through their spending, ARA CEO Paul Zahra noted only 8% of those surveyed said they were taking their partner out for dinner – possibly due to fears over the spread of COVID.

“There’s no doubt consumer confidence has been severely impacted by Omicron, but our research shows Australians will still be spoiling their loved ones this Valentine’s Day, with flowers and chocolates in high demand,” Mr Zahra said. 

“For florists, this is their busiest day of the year, and it would normally be for restaurants as well, however the sector has been severely impacted by staff shortages, COVID isolations and people generally being a bit more cautious with their social interactions.” 

“We’re unlikely to see the usual volumes of people going out for their Valentine’s Day dinner dates, which is disappointing.”

Young hearts spend big

The research also found spending patterns differ between age and gender groups, with younger Australians vowing to spend more than their older counterparts.

More than one-third of Australians aged 18-24 said they were planning to buy gifts for their partner, but that figure shrinks to only 7% of those over 65 treating their sweethearts.

The 25-34 year-old cohort are believed to have spent the most (a total of $135 million), followed by those aged 35-49 ($129 million).

Meanwhile, men were more likely than women to purchase gifts.

Sources

• Roy Morgan, A lot of love to share with Valentine’s Day to deliver a $415 million spending boon