The average consumer celebrating Valentine’s Day will spend $130.97 on gift items this year, a slight 4% rise from last year’s $126.03, according to survey results from the NRF and BIGinsight. Despite that modest rise, the average consumer spend of $131 still marks the highest average in the survey’s 11-year history. Total spending is expected to reach $18.6 billion, up 6% from last year’s $17.6 billion.
The NRF survey breaks down expected spending by gift recipients, popular items, and shopping destinations, among others. A list of selected results is provided below.
- Couples will devote the largest share of their Valentine’s budgets to their spouse or significant other. This year, they will spend an average of $73.75 on these loved ones, down slightly from $74.12 last year.
- Consumers will spend an average of $26.46 on other family members, such as children and parents, up from $25.25 last year.
- The average man plans to spend more than twice as much ($175.61, up 4.1% from $168.74) as the average woman ($88.78, up 3.5% from $85.76) this Valentine’s Day.
- 25-34-year-olds will spend an average of $204.03 (up 15.4% from $176.85), almost three times the amount ($68.14, down 14.5% from $79.67) adults 65 and older will spend.
- Discount stores (39.6%, up from 37%) will be the most popular shopping destination again, but department stores (33.2%) will challenge them for holiday traffic this year. 26.3% plan to shop online, which is a significant rise from 19.2% last year.
- Greeting cards will be the most common gift option (for 54.7%), followed by candy (51%), flowers (36.6%), and an evening out (36.2%).
- 19.6% of tablet owners will purchase a product on their device, compared to 12% of smartphone owners.
About the Data: The NRF 2013 Valentine’s Day Consumer Intentions and Actions Survey conducted for NRF by BIGinsight was designed to gauge consumer behavior and shopping trends related to Valentine’s Day. The poll of 5,815 consumers was conducted from January 2-9, 2013. The consumer poll has a margin of error of plus or minus 1.3 percentage points.