...is the budget which is to be spent, on average, for Valentine's Day this year. It is 20.43% less in comparison with 2020, when Canadian lovers spent 93$ on average for this very special day.
A Significant Decline in Valentine’s Day Budget in 2021 for Canadians Lovers
Like the below table is showing, a Canadian was spending about the same amount of money in 2019 and 2020 for Valentine's Day (respectively 94$ and 93$). However, 2021 looks less enthusiastic with the pandemic context in which Canada find itself. Indeed, the economic crisis doesn't help the households' consumption. Globally, the 2021 Valentine's Day budget should, for all these reasons, decrease by about 20% in Canada.
|Year||Average Canadian's budget for Valentine's Day|
What are Canadians planning for Valentine’s Day 2021?
As shown in the graph below, almost half of the people celebrating Valentine's Day wanted to go to a restaurant for this special day in 2020. This year, with the current situation, couples are expected to change their mind by choosing massively food deliveries or home-cooked meals.
Graph showing what a Canadian is doing (on average) for Valentine's Day (Source: RCC, Hellosafe.ca estimates for 2021)
*For 2021, the category "Dinner at a restaurant" includes meals deliveries. Note that the two columns on the left are cumulative, since in 2021 there will be no restaurant outings (except perhaps in a few zones - depending on how the pandemic situation goes). The category "Other" includes shows, confidential activities, etc.
How Canadians’ expenses are distributed for Valentine’s Day?
There are as many ways to celebrate Valentine's Day as there are couples. In fact, there's something for every taste and for every budget. However, in the graph below, we have established estimated ranges of expenses for the 3 principal common things to all the lovers who celebrate Valentine's Day: dinner; gift and flowers.
We could estimate estimated ranges by type of expense. Nevertheless, it is of course possible that some people may not spend anything at all on a bouquet, gift or dinner.
With the Covid-19, Valentine’s Day will be at home
Romantic evenings at home are really appreciated by Canadian couples, like 2020's data are showing. This could be a great solution to replace dinners at restaurants which aren't possible in this Covid time. Gifts are also popular since we estimate that nearly 36% of couples that celebrate Valentine's Day will be offering one i.e. 6 points more than in 2020. It is likely that with the anticipated drop in the restaurant budget, lovers will compensate with a more generous gift budget.
It is important to remind that Canada, like all other countries, had been hit pretty hard by the Covid-19. The unemployment doubled in less than a year: it went from 5.7% at the end of 2019 to 10% for the third trimester of 2020. This therefore translate into a decrease of buying power, especially for the youth, and explains that the budget dedicated for Valentine's Day is much lower than other years.
Where do Canadians plan to buy their Valentine’s Day gift?
Different gift's shopping locations for Valentine's Day in 2020 and 2021's estimates (Source: RCC and Hellosafe.ca 2021 estimates)
As illustrated by the above graph, the most significant trend in Canada in 2021 for Valentine's Day gift purchases is the explosion of internet orders. Indeed, our estimates show that these could almost double this year compared to 2020 (56% this year compared to 28% last year).
As we can see, purchases for 2020 Valentine's Day were for almost 40% of them in shopping malls. This category was followed by stores close to the place of work/residence (34%) and department stores (24%). Obviously, the Covid-19 pandemic has completely changed these consumptions habits.
With in-store purchases drastically limited for almost a year, Statistics Canada had already announced that online sales for the year 2020 would greatly exceed those of 2019. In fact, online sales increased by 110.8% between May 2019 to May 2020. It is therefore logical to see Internet purchases explode in anticipation of Valentine's Day 2021, and to see the other three categories mentioned decline.
4 Tips to celebrate Valentine’s Day in Covid period
Tips N°1: Prepare a romantic meal at home
The simple things are often the most appreciated, we can never tell you enough. A one-on-one dinner will be perfect to enjoy this special day. If you're not a food lover (or just don't like it), don't hesitate to order a good meal at a local restaurant. In addition to pleasing your loved one, you will support the local economy!
Tips N°2: A walk in the woods
In Canada, no excuses, there's always a forest nearby! A nice walk among the trees or in a park can be a very good idea to spend some time together discussing everything and nothing.
Tips N°3: Turn your living room into a home cinema
There are plenty of projectors at bargain prices that will allow you to project the film of your choice on the wall of your living room. Grab popcorns, a blanket and you're done!
Tips N°4: Send flowers or any other gift
If, unfortunately, you are separated from your loved one on February 14th, consider sending her flowers or any other gift that will please her. A little attention is always appreciated. And even if you are together for Valentine's Day, having a bouquet or any other gift delivered to her can also be a great idea for a surprise. We count on you to find THE perfect gift.
This study features 2020 data published by the Retail Council of Canada. The estimates made by Hellosafe.ca are based on data available for the year 2020 from the above mentioned organizations, as well as on a set of economic and purchasing power indicators for 2021.
Hellosafe.ca is a comparison platform which is shaking up the insurance market – giving you access to the best Canadian insurance deals in less than 30 seconds. Hellosafe.ca is supported and financed by Blue, an Insurtech Venture Capital firm. Blue already owns two leaders in the French insurance comparison market, Réassurez-moi and Coover. These platforms help more than 10 million people with their insurance every year. We have developed a unique comparison technology that gives access to cover details and quotes without customers having to give their phone number or email address. This engine is the result of four years of hard work.
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