Generation Z Splurges on Valentine's Day in Hungary

  • 16 Feb 2023 8:27 AM
  • Budapest Business Journal
Generation Z Splurges on Valentine's Day in Hungary
Men born before 1964 typically do not spend money on Valentine's Day gifts, while those belonging to Generation Z spend more than three times as much as on an average day, according to a survey from Erste Bank, writes

On the day known as the holiday of love, customers spend an average of 16% more than an average day in January.

Examining debit and credit card purchases, the bank found that consumers spend 66% 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% more on romantic gifts.

Members of the generation born before 1964 typically do not spend on Valentine's Day, while those from Generation X, today's 42-58-year-olds, already pay more than 50% more for this purpose.

Meanwhile, the Millennial generation, born between 1980 and 1996, spends almost twice as much as before.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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