Generation Z spends three times as much on Valentine’s Day as on any other day

Men born before 1964 typically do not spend money on Valentine’s Day gifts, on the other hand, those belonging to generation Z spend more than three times as much as on an average day, according to a statement sent to MTI by Erste Bank on Monday.

They wrote that on the day also known as the holiday of love, customers spend an average of 16 percent more than on an average day in January. Examining card purchases, the bank found that consumers spend 66 percent more than usual on restaurants, flowers, and underwear. Men’s Valentine’s Day spending is almost double that of January, and members of Generation Z (born between 1996-2010) spend 355 percent more on romantic gifts.