The Cost of: Love

There’s no denying it, there’s not hiding from it. The cost of living crisis is here and it is set to have a significant impact on young people.

In the second instalment of our new content series, we’re exploring the consequences that the looming recession is having on the lives of young people; from how they have fun to how they wind down and maintain balance in their lives. This week, we take a deep dive into one of our favourite topics - LOVE

We all know that our young years are enthralled with the dramatic highs and lows of love, but what does it actually cost to love and be loved in this economic climate? Jennifer Lopez once sang ‘my love don’t cost a thing’ but that was before the advent of dating apps. Finding The One in the 21st century is a whole new ball game (and the game is expensive).

The UK dating industry is expected to hit a whopping £290.6 million this year and with Brits forking out roughly £1,349 a year on dating, with an average of £106 spent per date** - that’s no small change. For some young people this kind of money simply isn’t an expense they can justify.

Cost of: Love

There’s no denying it, there’s no hiding from it. The cost of living crisis is here and it is set to have a significant impact on young people.

In the second instalment of our new content series, we’re exploring the consequences that the looming recession is having on the lives of young people; from how they have fun to how they wind down and maintain balance in their lives. This week, we take a deep dive into one of our favourite topics - LOVE

We all know that our young years are enthralled with the dramatic highs and lows of love, but what does it actually cost to love and be loved in this economic climate? Jennifer Lopez once sang ‘my love don’t cost a thing’ but that was before the advent of dating apps. Finding The One in the 21st century is a whole new ball game (and the game is expensive).

The UK dating industry is expected to hit a whopping £290.6 million this year and with Brits forking out roughly £1,349 a year on dating, with an average of £106 spent per date** - that’s no small change. For some young people this kind of money simply isn’t an expense they can justify.

Unfortunately opting out of the dating pool until the financial climate improves might not be the financially prudent decision either. Without meaning to be the harbinger of bad news; being single is actually a pretty costly way to live. The world is simply not created to serve singletons. Single people are paying an average of £630.38 more per month than those in relationships - on things like bills, socialising and holidays*.

Falling in love is an eternal condition of youth and shouldn’t cost the earth. It seems unfair that young people should feel either like they have to opt out of dating because they can’t afford it or rush into something just to make ends meet.

Young people reject cis-gendered Western ideas of heteronormative love and marriage but it seems that the dating market has yet to catch up. Brands can play their part in shaping culture to match young people’s more modern and open approach to dating - one that isn’t so myopically focused on couples. So what can brands do?

⊛ Decouple (pun intended) the notion that two is better than one, food brands should consider how to market products as single portions / offerings priced fairly and work to eliminate the singles tax.

⊛ Consider a campaign that helps inspire young people to stick with dating by suggesting free/cheap and outside-the-box alternatives to costly dinner dates.

⊛ Change the culture of dating; dating brands can help in more ways than one by investing in local activations. Why not partner with local venues so that potential lovers can meet and make meaningful connections in new ways that don’t rely on the usual tropes of extravagant dinner dates.