This year’s givers also expect to receive.
Of more than 1,000 consumers surveyed, Bankrate found that nearly one-fifth (18%) of younger millennial respondents expect their partner to spend $200 to $500 on gifts.
Younger millennials' “sky-high expectations could be a result of how tapped the generation is into social media,” Bankrate noted. Millennials feel the pressure to keep up with their friends' spending habits, and 57% say they parted with money they hadn’t planned to spend because of what they saw on their social media feeds, according to Allianz Life Insurance Company of North America data published in February 2018. This means we can expect to see plenty of pink posts come February 14.
Self-Love Is in the Air
The biggest surprise in this year’s numbers is consumers’ focus on spending for themselves.
A November 2018 survey from Finder found that consumers will spend roughly $236 on themselves this Valentine’s Day—more than triple last year’s $71. In fact, only wives ($358) and kids ($280) top consumers’ self-spending, according to the survey.