Americans To Pull Out All The Stops This Valentine's Day (NRF)
The National Retail Federation's 2012 Valentine's Day Consumer Intentions and Actions Survey projects total Valentine's Day sales will rise 11.8% this year to nearly $17.6 billion, with the average consumer spending $126.03 or 8.5% more than 2011.
"As one of the biggest gift-giving holidays of the year, it's encouraging that consumers are still exhibiting the desire to spend on discretionary gift items, a strong indication our economy continues to move in the right direction," said NRF President and CEO Matthew Shay. "Anticipating high foot traffic in the coming weeks, retailers have replenished their inventories and will entice eager shoppers with great deals on everything from special menu items at restaurants to clothing to flowers and, of course, chocolates."
Online shoppers to treat loved ones this Valentine's Day (Shop.org)
19.3% of consumers will purchase Valentine's Day gifts online this year, up from 18.1% last year, and Shop.org notes that they spend a lot more than their offline counterparts:
- plan to spend a combined net average of almost $200 for Valentine's Day, or about two-thirds more than offline-only shoppers
- plan to spend a net average of $114.25 on just their significant other or spouse, about 66% more than offline only shoppers
- will spend almost twice as much as offline only shoppers on jewelry, budgeting a net average of over $50 for this gift item
- will spend more than their offline-only counterparts on other family members such as children and parents, as well as friends, co-workers and pets
- One-third will make some purchases in discount stores and department stores and 1 in 5 will head to a florist and specialty stores
In addition, almost half of online shoppers (46%) own a smartphone, and almost one in five (17%) own a tablet device.