Friday, February 1, 2013

Valentine’s Day 2013 Spending by the Numbers

Cautious Consumers Keep Cupid At Bay This Year (NRF)

The National Retail Federation’s 2013 Valentine’s Day Consumer Intentions and Actions Survey projects total Valentine’s Day sales will rise 6.2% this year to more than $18.6 billion, 3rd highest among holidays behind only Christmas and Back to School, with the average consumer spending $130.97 or 3.9% more than in 2012. Some highlights:

  • Men will spend an average of $175.61 on jewelry, flowers, a romantic evening out and more, while their counterparts will spend approximately $88.70
  • Shoppers still prefer to browse in stores, but 26.3% will shop online this year, up from 19.3% last year and 16.3% in 2010
  • Mobile and tablet shopping activity will be prevalent, with 23.9% of smartphone owners researching and comparing prices and 12% making purchases, while 30.8% of tablet owners will research and compare prices and 19.6% will use their tablets to make purchases

Valentine’s Day Sales Up 3.2% in 2013: Traditional Gifts Like Candy and Flowers to Rise (IBISWorld)

IBISWorld expects consumers to spend $20.8 billion, an increase of 3.8% from 2012 with average spending of $134.08 per person this year, led by strong growth in flowers, candy and romantic getaways:
  • Flower sales are expected to increase by 5.7% this year, aided by the fact the holiday falls on a Thursday, as people are more likely to have flowers delivered to the workplace. Consumers are turning to online flower retailers, where they can browse and compare prices against brick-and-mortar flower shops
  • Candy sales, a small luxury that can be enjoyed without much financial guilt and can be delivered easily to offices, will rise 4.3% over 2012. Because the holiday is on a weekday, children in schools will give candy to their teachers and peers, helping support an overall increase in sales
  • Following a 4.9% jump last year, jewelry sales will falter in 2013 with an expected gain of just 2.2% as consumers spend less on big-ticket items due to higher payroll taxes
  • Clothing and lingerie, far less popular than traditional Valentine’s Day gifts, will rise just 1.8% and and greeting cards continue to suffer as customers either switch to digital alternatives or to cheaper homemade cards, and will only see a sales increase of 0.4%
"Although overall spending will increase slightly, consumers are still watching their wallets, and spending on expensive items will suffer as a consequence," said IBISWorld industry analyst Lauren Setar. "Due to these trends, Valentine’s Day purchases are expected to trend toward conventional gifts, giving candy and flowers an edge this year."

Society of American Florists (SAF)
  • Estimated number of roses produced for Valentine’s Day in 2012: 224 million
  • Valentine’s Day the No. 1 holiday for florists in fresh flowers, capturing 36% of holiday transactions and 40% of dollar volume
  • At all outlets, Valentine’s Day represents 20% of transactions & 25% of dollar volume for fresh flowers & plants


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