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Survey February 9, 2024

Valentine’s Day 2024: Gen Z is in love with … love

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Nearly half of Gen Z Valentine’s Day shoppers plan to spend ‘more’ this year. 

Fresh off a more muted season for holiday spending, shoppers seem to be less likely to feel the love this Valentine’s Day. Among those celebrating, just 31% plan to spend ‘more’ on Valentine’s purchases this year compared to last, down from 39% in 2023. The generational exception is Gen Z. Almost half (47%) of those born between 1997 and 2006 plan to increase their spending this year, perhaps driven by their love for, well, love. Read on to find out why retail’s cupids should aim their arrows at this group of spenders.

Feeling the love
When asked about their feelings about Valentine’s Day on a spectrum of options, Gen Z celebrants were most likely to say they were hopeless romantics, perhaps driving their engagement with the holiday compared to generational peers.

Valentine’s personality

Showering others with gifts
While most, including Gen Z, plan purchase Valentine’s gifts for their spouses or partners, the youngest cohort is also more likely to show affection for a wider variety of recipients than average, including themselves.

Top Valentine’s gift recipients

Attracted to credit card incentives
Gen Z shoppers are also most likely to be swayed into spending more than intended if the right credit card option (e.g., special cardholder discount, 0% financing or convenience of paying over time) is available to them.

Credit card offers (net) could entice additional Valentine’s spend

Key takeaway: Finding the opportunities
While overarching Valentine’s Day insights seem to support the economic ‘soft landing’ projected in the first half of 2024, bright spots in consumer spending can still be found. Homing in on primed-to-spend audiences (in this case, Gen Z) with relevant + personalized messaging, compelling offers and payment options that suit their needs could be key to leveraging these types of opportunities while standing apart from the competition.

Source: Bread Financial proprietary study, Valentine’s Day Look Ahead survey, January 2024

About Bread Financial™
Bread Financial™ (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive suite of payment solutions that includes private label and co-brand credit cards and Bread Pay™ buy now, pay later products. Bread Financial also offers direct-to-consumer products that give customers more access, choice and freedom through its branded Bread Cashback™ American Express® Credit Card and Bread Savings™ products.

Headquartered in Columbus, Ohio, Bread Financial is powered by its approximately 7,000+ global associates and is committed to sustainable business practices. To learn more about Bread Financial, visit or follow us on FacebookLinkedInTwitter/X and Instagram.