Love is in the air, and in most store fronts, which means Valentine’s Day is just around the corner. More than half of consumers surveyed plan to celebrate Valentine’s Day this year and the average consumer will spend $111 on Valentine’s Day gifts. 54% of Valentine’s Day shoppers are going to buy gifts for more than one person. 8 out of 10 will buy a gift for their spouses or significant others and 3 out of 5 plan to buy a gift for a family member.
Consumers are mostly sticking to traditional Valentine’s items. Cards are the most popular gift item, with more than half of all Valentine’s shoppers purchasing a card. More than 1/3 of consumers will give a loved one chocolate or take them out to a restaurant and 28% will give flowers.
Men will outspend women this Valentine’s Day, with men expected to spend $142 dollars on gifts for their sweethearts versus the $82 women plan to spend.
Also interesting is that consumers buying gifts online will spend more than twice as much, on average, as consumers who buy gifts in stores only. In fact, online shoppers plan to spend $170 on Valentine’s gift, versus just $67 for in store shoppers.
Debra Miller Arbesman is senior associate, retailer and consumer products at Compete, a Kantar Media company that helps brands improve their marketing based on the online behavior of millions of consumers.