AIB has revealed the spending habits of romantics in Ireland on Valentine's Day in the latest spending report released by the bank.
Details
The data was compiled from c.1.7 million debit and credit card transactions in store and online on 14 February 2022, and has been anonymised and aggregated.
Speaking about the data, Sean Jevens, chief digital officer said, "Occasions like Valentine's Day provide a unique insight into the spending habits of people in Ireland and can help both customers to plan their spending, and businesses to plan and meet their needs. AIB's Valentine's Day spending data shows restaurants, pubs, hotels, florists and jewellers all experience an increase in spending at certain times of the day. AIB's robust, comprehensive data allows us to better understand our customers and how to support them, whether that's through technology in our app to plan their finances, or through payment services like contactless and our digital wallet options."
Valentine's Day Spending 2022
- The busiest time for spending was between 7pm-8pm, with transactions up 68% in that hour from the previous week.
- Men are the bigger spenders on the day, spending 55% more than women, with an average spend per transaction of €27 for men and €24 for women. Men completed 30% more transactions than women.
- Men spent 65% more on Valentine's Day compared with the same day the previous week, while women spent 20% more.
- The highest spend by men and women took place after work, between 6pm-8pm.
- Spending in florists increased 295% on Valentine’s Day, with the majority of florist transactions between 4pm-6pm, as people rushed to buy a gift after work. Spending in florists by men increased by 492%. The average spend per transaction in florists was c. €50.
- Spending in jewellery shops increased by 38%, and the number of transactions increased by 45%. The average spend per transaction was c. €140. Men spent more per transaction in jewellery shops, at c. €178.
- People spent an average of c. €110 in hotels, where the number of transactions increased by over a third (36%), with the value of those transactions up by 14%. Men under 25 years had the highest increase in spend on hotels, at 123%.
Read More: Service Sector Activity Increased In January, According To Latest AIB PMI Survey Data
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