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$200 Valentine's Day? That's what most younger Canadians are spending

Men intend to spend more money than women on Valentine's Day this year, according to CIBC.
St. Valentine's Day, stock
Feb. 14 marks the holiday of love: Valentine's Day.

CIBC and pollster Maru Public Opinion were curious to find out what Canadians age 18-34 plan to spend on Valentine’s Day this year and the survey says: $200.

That’s the average amount 52 per cent of Gen Z and younger millennials intend to spend as well as the most common response among all Canadians.

The survey found a big gap in spending among genders: whereas men are planning to spend $217 on their Valentine, women say they only plan to spend $108 for the holiday.

But Cupid is tightening some belts.

“With inflation putting pressure on budgets, half of Canadians said they were aiming to keep their spend the same as last year, while 13 per cent said they would try to spend less on Valentine's day this year,” the bank noted.

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