Wondering what Valentine’s Day gift you’ll be getting this year?
There is a real chance your present will cost slightly over a hundred bucks, a survey has found.
Conducted by market research company YouGov, the survey of 1,041 Singaporeans found that respondents are planning to spend an average of S$123 (US$90.80) on a present for Valentine’s Day.
A small proportion of respondents (2 per cent) who were planning on gifting said they were planning to give a gift that doesn’t cost any money at all – after all, some romantics believe that money can’t buy love and happiness.
Slightly more than half, or 56 per cent, of those buying gifts will pay via credit card, while 23 per cent will do so by cash, and 19 per cent via debit card.
Out of all respondents, only 34 per cent said they will be celebrating Valentine’s Day this year. The three groups of people most likely to celebrate Valentine’s are the young, unmarried and new couples.
According to the survey, 45 per cent of those aged 18 to 24 will be celebrating V-Day, compared to only under a quarter of those aged 55 and above.
Also, 63 per cent of unmarried couples will be celebrating the day of love, compared to only 37 per cent of married ones.
YouGov also found that the longer two people are in a relationship, the less likely they are to celebrate Valentine’s Day.
A total of 76 per cent of couples who have been in a relationship for less than a year will be celebrating Valentine’s this year. In contrast, only 27 per cent of couples who have been together for 20 years or more are planning to do so.
Around 66 per cent of respondents said they would not be celebrating Valentine’s Day, and the top reason was that they found it too commercialised (47 per cent).
Other reasons include viewing Valentine’s Day as just a regular day (46 per cent); that everything is more expensive on Valentine’s Day (36 per cent); and the lack of a romantic partner to celebrate with (26 per cent).