It’s February, and we all know what that means: Valentine’s Day!
Whether you have a significant other, a secret admirer, or just want to be left alone this Saturday, February 14th, there’s no doubt this holiday causes a spike in love-themed gifts. That’s why, whether single or taken, it’s suprising to hear how much people are really spending and on what! Valentine’s Day is really a retailer’s dream, and the numbers below prove it.
Total Expected Valentine’s Day Expenditures for 2015: $18.9 Billion
Breakdown: Candy -1.7 billion, Jewelry- 4.8 billion, Flowers- 2.1 billion, Night out- 3.6 billion, Clothing- 2 billion, Gift cards- 1.5 billion
Number of Valentine’s Day cards exchanged annually: 180 million
Average number of roses produced for Valentine’s Day: 196 Million
Percent of Valentine’s Day cards bought by women: 85 %
Percent of flowers bought by men: 73%
Percent of women who send themselves flowers on Valentine’s Day: 14%
Amount the average consumer spends on Valentine’s Day: $116.21
Percent of consumers who celebrate Valentine’s Day: 61.8%
Percent of women who would end their relationship if they didn’t get something for Valentine’s day: 53%
Men vs. Women spending: Men: $190.53 vs. Women $96.58
According to CSP Net, there is also a rise in unique ways retailers are drawing customers into their store. This may include experiences, exclusive deals, meal options, and even elaborate retail displays.
The Valentine’s Day branded displays in many stores fill consumer’s emotions with love and sometimes even guilt because they feel the pressure to get that special someone the best gift they see on the shelves. These displays tug on the heart-strings of consumer’s hearts as well as their wallets.
But CSP Net’s principal analyst cites, “While many will splurge, some will still look for simple and affordable ways to show their appreciation for friends and family and celebrate in a way they are most comfortable with.”
Check out some unique displays used for Valentine’s Day. Do you like seeing Valentine’s Day-themed displays in stores? What are you planning on buying for your significant other?
“Today is Valentine’s Day, or as men like to call it, extortion day!”
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Sharn Enterprises, Inc.
“A Proud American Manufacturer”