Study: $12.79B Will Be Spent for St. Valentine's Day

Share this content:
The average consumer will spend $99.24 on St. Valentine's Day this year, up from $80.44 in 2003, according to a new study conducted by Bigresearch for the National Retail Federation.


Online and offline spending for that occasion will reach $12.79 billion this year, the NRF said.


"Valentine's day has become a very big business for retailers in what is traditionally one of the slowest shopping months of the year," NRF president/CEO Tracy Mullin said in a statement.


Young adults will lead the spending, with an average 18- to 24-year-old aiming to spend $154.65. Those ages 25-34 plan to spend $78.30.


The study, polling 8,683 consumers Jan. 8-14, found 59.8 percent of U.S. consumers will celebrate valentine's day this year. Of those surveyed, 69.1 percent intend to buy gifts for children and parents, though nine of 10 will buy for their spouses or significant others. Also, one in four plans to buy gifts for friends and children's classmates or teachers.


The survey found 73.3 percent will buy a greeting card and 53.2 percent candy. Of those buying flowers as gifts, 64.9 percent of men nodded to that choice compared with only 16.2 percent of women. And 44.4 percent of surveyed couples will go out on St. Valentine's evening.


Sales performance on this holiday speaks for its appeal. More cut flowers are sold for St. Valentine's Day than any other holiday, according to the Society of American Florists. The Greeting Card Association reports it is the second-most-popular card-sending holiday.


Nor is chocolate overlooked. The National Confectioners Association claims St. Valentine's Day is fourth in candy sales after Halloween, Easter and the Thanksgiving-to-New Year's holidays. More than 36 million heart-shaped boxes of chocolate will sell this year for valentine's day, according to the Chocolate Manufacturers Association.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above