How much do people spend on this Valentine’s Day

Customers buying gifts for Valentine’s Day plan to spend $ 163 on their other important one this year, a recent study from RetailMeNot found. This expected cost is nearly twice that of last year’s holiday, when customers were expected to spend $ 85.

Despite the difficult economic challenges posed by the pandemic, spending this Valentine’s Day is up. And of course, it may just be the pandemic that is causing people to splurge more than they did in previous years.

“I suspect that people are spending almost twice as much this year as they are not traveling as much, going to concerts, eating out, etc, so there are extra facilities. and they choose to spend money on other things, in this case Valentine ‘s Day gifts for others they value, “Sara Skirboll, RetailMeNot’ s buying and moving expert, tells CNBC Select.

RetailMeNot’s study also revealed how customer relationship standards play a willing role in spending. Couples involved said they planned to spend $ 243, while newlyweds set aside $ 317 for their partner and partners who had been married for more than 10 years sharing $ 467.

Whatever your relationship status, below we’ll gather some spending tips as you head into your love-filled weekend.

With the constant social distance and travel restrictions at play, this year’s quarantine Valentine’s Day is definitely making it different from the other years of celebrations. You can still show respect to your significant other even by staying at home.

Here are a few rounded CNBC Select spending tips for this special Valentine’s Day:

• Use a rewards credit card for cash for two: Restaurants in your area may be opening (if they haven’t already), but RetailMeNot is predicting more couples to stay in. If you have a Chase credit card, such as the Chase Sapphire Reserve®, Chase Sapphire Preferred® Card or Chase Freedom Unlimited®, you can take advantage of your $ 60 DoorDash credit for delivery.
• Open a new credit card and get instant score of special V-Day deals: American Express® Gold Card now offers up to a $ 120 Uber Cash benefit ($ 10 per month) to pay for Uber Eats orders. * In addition to this weekend, Amex is teaming up with Uber Eats and Fuku ‘s fried chicken restaurant to release a limited edition Golden Rose Food -edition. Access this dish through Uber Eats at participating venues in New York and Los Angeles from Feb. 13 to 14 for a golden-brown Sando Knockout, bubbly drink, custom candle and dessert. The Amex gold card is one of many Amex cards that give you instant access once you have to wait for the credit card to arrive in the mail.
• Get cash back on delivery of flowers for your next important item: Many credit card issuers offer rewards programs that give cardholders discounts at some restaurants, clothing stores and hotels, when you meet spending requirements. Amex cardholders have access to Amex offers for contracts with retailers like 1800flowers.com where they cost $ 50 or more and get $ 10 back. Amex’s offerings vary by location and change frequently.
• Give your partner something to look forward to with a future of free tours: Surprise your partner by signing up for the Southwest Rapid Rewards® Plus Credit Card, Southwest Rapid Rewards® Premier Credit Card or Southwest Rapid Rewards® Priority Credit Card. Owners of new cars that spend $ 5,000 on purchases within the first three months of opening their account will benefit from a Passion Companion that spins out your love trips into February. next year, more than 30,000 points. Have an idea of ​​how you plan to meet this lowest cost so that your partner can look ahead by scoring the welcome bonus and upcoming travel opportunities. This limited offer expires on March 10, 2021.

While Valentine’s Day spending is up this year, you can take advantage of prizes to make it a special time at an affordable price. That credit card that sits in your wallet seems to offer some sort of special offers, points or cash back so that you and your loved one can earn more when you finally spend -this week. And if you’re looking for a new card with offers, there’s still some time to apply.

* Uber Cash Gold Express American Express® benefit only applies to US Eats orders and tours. A card must be added to the Uber app to take advantage of Uber Cash.