Valentine’s Day in terms of overall spending ranks fourth annually after the holiday season, and Mother’s Day (still #2). This year, according to the NRF, it will rack up an impressive $19.6 billion in revenue, impressive considering that it dipped down to $16B in 2007. The day represents a drop in the bucket compared to the staggering holiday spending totals, but it still deserves thoughtful and precise analysis.
We combed the web and pulled together summaries of the best data stories we could find. We also found some fun stories that should warm your heart (the heart puns end here, we promise).
NRF’s 15th Annual Valentine’s Day Survey
The NRF continues to provide interesting tallies (from their 15th annual survey) on how people were spending their cash this season:
- 55% of consumers were planning on celebrating
- The average spend per celebrant: $143
- The biggest spenders are millennials (25-34) with an average spend of $202.76
- #1 gift, jewelry; #2, an evening out (for a total projected spend of $3.7B, second only to Mother’s Day)
- 35% of consumers still opt for department stores for their V-Day shopping needs
- 27% of non-celebrants planned on spoiling themselves in some way
Read the rest here.
Millennials Share the Love...With their Pets
While younger millennials are still not quite in the parent game, they are showing their love for their fur babies. A quarter of the under-35 population plans on purchasing a Valentine’s gift for a pet. This is both adorable and really good news for online pet retailers.
Self-care is more than just a buzzword with Gen Y, and it’s how many of them celebrate on February 14. Half of them plan on treating themselves on a little treat like a spa day, or just spending the evening with friends.
Also, per the NRF, a whopping 69% plan on buying sweet treats, leading national chains like Krispy Kreme to make admirably cute heart-shaped and pink sprinkle adorned doughnuts.
Get more of the details from the NRF here.
Gym Memberships Still Top the “Just Don’t Bother” Lists
Ebates did their own survey this year and unearthed some more insightful data on the gift-giving habits of Americans during the season of love. They polled just over 1,000 adults (1,008 to be exact) and found that 64% planned on celebrating.
They also found that 48% of those surveyed planned on treating a loved one to a dinner out, and another 23% would opt for a big act of love like a horse-drawn carriage or flowers. The bad news for gyms and kitchen appliance brands is that those surveyed also said that those gifts were still amongst the least desirable. Also, don’t bother with mixed tapes (who still does that?) or stuffed animals.
Check out the complete results of the survey here.
Consumer credit site WalletHub also sponsored an annual survey, with more insights on gifting, habits, and consumer expectations. They found that in 2017, men spent almost twice as much as women, probably because 53% of those women surveyed admitted that they’d dump a significant other if they didn’t get a gift. A telling 9 million marriage proposals were planned for this year (not surprising then that jewelry still tops the gift list). A big takeaway from this survey is that consumers spend $1.5B on gift cards, and almost $1B on greeting cards.
In the days following the holiday, Match.com will see a 20% jump in new profiles (maybe that’s the week your single friends consider gym memberships a good gift?). If you’re a retailer, the #1 city for Valentine’s Day is San Francisco, with #2 being San Diego, and Las Vegas #3. (There’s a good joke to be made here that somehow magically combines a certain famous song about leaving one’s heart in San Francisco and things happening in Vegas staying in Vegas. Feel free to Tweet us if you think of one.)
The entire WalletHub survey and cheeky infographic is available here:
Other Fun Valentine’s Day Roundup Reads
Confused about the origins of the holiday? You’re not alone. History itself isn’t even quite sure. Check out this piece from Smithsonian Magazine on the day’s gory backstory.
Did you know the oldest known Valentine greeting was written by the Duke of New Orleans in the 15th century? We didn’t either.
Guess who has no love for Valentine’s Day? Small restaurants.
Three very lucky people got to #Vdayandchill with Maroon 5’s Adam Levine. The results are predictably funny and charming (in other words: Adam Levine).
Did you know Easter is the 5th biggest spending holiday in the country? It’s right around the corner. Still not quite ready? That’s what we’re here for. It’s not too late to get your product pages prepped for the season.
Let’s set up a time to talk about data insights, best practices, and the right metrics that will make the biggest impact.