This Friday will be a day to remember for many couples — not just because it’s Valentine’s Day but because it will be the day they got engaged.
About 13 million people expect to get engaged this year and about 6 million of them say they will receive or plan a proposal on Valentine’s Day, according to the latest American Express Spending & Saving Tracker.
“More Americans are marking the Valentine’s Day holiday with something special for their someone special,” said David Rabkin, SVP of Consumer Lending Products for American Express. “Valentine’s Day is still a major retail driver, and merchants will likely see a boost on spending for romantic items and experiences this year as consumers have more fun with their holiday plans.”
The couples getting engaged will spend and average of $2,311 on an engagement ring, slightly lower than 2013’s average of $2,410. A quarter of couples believe the appropriate amount to spend on the engagement ring is between $2,000 and $4,999, up from 21% in 2013. Thirty-eight percent (down from 42% in 2013) are more conservative, citing less than $1,000. A few high rollers (16%, on par with 2013) put a price of $5,000 or more on their hardware.
As for the best setting to pop the question, men say they prefer a proposal while on vacation (31% vs. 25% in 2013), while women crave romantic ambiance at home (27% vs. 18% in 2013).
Getting engaged on Valentine’s Day can have some benefits. It is a romantic day to celebrate your love and it will be an easy date to remember. However, with about 6 million people expected to get engaged or plan an engagement on that day, it’s not a unique idea. You’ll have to come up with a unique way to pop the question to help make the proposal unique.
A word of caution if you are thinking about getting engaged on Friday because it is such a romantic day — don’t rush it! If you’re not ready, don’t push it just because you want Valentine’s Day to be special. Take advantage of the day to celebrate your love but don’t jump into something.
Getting engaged on Valentine’s Day could also be a little costly if you haven’t planned far in advance. This is a popular time of year for flowers and jewelry as gifts so the choices might be limited and the prices could be a little higher — either because of high demand or because lower cost items are sold out.
If you are thinking of getting engaged this Friday, here are some more tips.
If you don’t want to get engaged on Valentine’s Day but you want to celebrate your recent engagement, you could have an engagement party or plan a special romantic celebration as a newly-engaged couple. It might be a good day to start the wedding planning.
Next week, we’ll take a look at picking the date for your wedding. Is Valentine’s Day the perfect day for you? How do you choose?
Let Cre8 Salon and Spa help give you that romantic look for your special Valentine’s Day celebration — whether you are getting engaged or not.