Survey shows markedly different Valentine's Day spending expectations for men and women
A new ASB survey has suggested that men are putting a higher price on love this year, with 27% of men planning to spend more than $150 on gifts for their significant other, compared to only 9% of women.
Read more: ASB
The bank’s 2022 Valentine’s Day survey, of more than 2,000 ASB customers nationwide, revealed that a third of women intend to spend no more than $50 on Valentine’s gifts this year, compared to 25% of men.
Survey results also showed that close to a quarter of the respondents plan to celebrate Valentine’s Day, while another quarter are still unsure whether to mark the day.
Of those surveyed, 77% opted for time together, whether the date may be at home or away.
Just over a third said COVID-19 has resulted in a change of plans, and they are now no longer planning to go out to celebrate Valentine’s Day.
Read more: NZ households save more than $3.8bn due to lockdown
Those intending to give their loved one gifts were most likely to stick with the traditional flowers and chocolates, while 12% may go for experiences such as a trip away or a massage.
When it comes to finding the perfect gift, two thirds of the respondents plan to shop in store this year and 40% 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% spending more than $75 this year. Also spending the same amount during the most romantic day of the year are 52% of boomers. Meanwhile, 48% of millennials plan to spend over $75. Love is cheaper for Gen Z, with just 39% saying they will spend $75 or more this year.
