Cost of Traditional Valentine’s Day Celebration Soars

Photo (cc) by CoCreatr

The Beatles famously said you can’t buy love. However, you can buy all the accouterments of Valentine’s Day in hopes of love.

But you will need to open your wallet, because it will cost you — about $512 this year, according to Bankrate.com’s Be My Valentine Index.

The website developed this index to try to gauge the cost of Valentine’s Day as defined by the cost of “all the usual Valentine’s staples”:

  • A dozen red roses
  • Chocolates
  • Dinner for two
  • Jewelry
  • Champagne

Ron Hill, a professor of marketing and business law at the Villanova University School of Business, tells Bankrate.com that even people who don’t have money for Valentine’s Day celebrations feel compelled to spend on the “holiday”:

“For most couples, the expectation is there regardless of what the economic situation is. Love is one of the few things that we think has that infinite value.”

Here’s how Bankrate.com arrived at its value of approximately $512, which is based on data from the website’s price surveys as well as market research companies NPD Group and Nielsen.

  • A dozen red roses: The average price at an online retailer is $41.66 — so before you fork over that much, check out “Picked With Love: How to Get the Very Best Value on Valentine’s Flowers.”
  • Chocolates: The average price of a heart-shaped box of Valentine’s Day chocolates weighing between 7.5 ounces and 8.5 ounces is $15.11.
  • Dinner for two: The average cost of dinner for two at a fine-dining restaurant is $80.46 — and that does not include the tip.
  • Jewelry: The average price for a pair of princess-cut, one-quarter-carat diamond earrings with moderate color is $323.26.
  • Champagne: The average bottle of champagne sold in the U.S. last year cost $51.54. (For a cheaper alternative, consider Prosecco, a sparkling wine from Italy that averages $11.99 per bottle.)

Are you buying into Valentine’s Day this year? Let us know how much you’d spend below or on Facebook.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Most Popular
What Inflation Means for Social Security Checks in 2022
What Inflation Means for Social Security Checks in 2022

Recent inflation figures were ugly. Here’s what they hint about the next Social Security benefits adjustment.

If You Find This Thrift Shopping, Buy It
If You Find This Thrift Shopping, Buy It

This iconic dinnerware is prized for everyday use as well as reselling for profit.

3 Colors That Can Ruin Your Car’s Resale Value
3 Colors That Can Ruin Your Car’s Resale Value

Select the wrong color for your next car, and it could depreciate twice as fast as others.

20 Things That Are Actually Worth Stockpiling
20 Things That Are Actually Worth Stockpiling

You don’t need a year’s supply of toilet paper to survive an outbreak, but consider stocking up on these items.

9 of the Best Things to Do When You Retire
9 of the Best Things to Do When You Retire

You’ve waited all your life for this moment. Make the most of your retirement.

Beware This Hidden Ingredient in Rotisserie Chicken
Beware This Hidden Ingredient in Rotisserie Chicken

Something foul may lurk in those delicious, ready-to-eat birds.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.