Record price rises force Brits to change Valentine’s day plans and cut back on dating
The romantic life of the British public has become the latest victim of the cost of living crisis, as three quarters of daters claim price hikes have impacted their Valentine’s Day plans.
According to a poll of over 2,000 people from Nationwide Building Society, soaring inflation has forced Brits to cut back on dating more broadly, with close to a fifth of the public now looking to go on dates that cost nothing.
In a bid to spend less, some 17 per cent of the public have revealed that they are committed to going on fewer dates, while a further 13 per cent confessed they are now on the hunt for a more financially stable partner.
One in ten English singletons has also decided to cut ties with dating app subscriptions such as Tinder Gold and Bumble Premium. The firm said this chimes with data from its December spending report, which points to an eight per cent drop in year-on-year spending on dating sites.
However, data showed that men were still willing to fork out for their partners on Valentine’s Day this year.
British men are set to spend an average of £97 on Valentine’s Day gifts this year, up from £93 last year, whereas women expect to spend around £64 on gifts – more than a third less than last year.
Younger people aged 16-24, are set to spend three times as much compared to those aged over 55, with each age group spending an average £117.40 and £39.15 respectively.
“With an average price tag of £91, Valentine’s Day could prove to be an expensive gesture for many, which is why we would remind people to shop around for a special gift that doesn’t break the bank,” Mark Nalder, payments strategy and performance director at Nationwide Building Society, said.