Men Are Biggest Valentine's Day Spenders
By Staff -- Gifts & Decorative Accessories, 2/12/2008 8:22:00 AM
Washington, DC — When it comes to showering gifts on their sweethearts, men are expected once again to be the bigger spenders this Valentine's Day, shelling out some $163.37 on gifts and cards. By comparison, women will spend an average of $84.72 on their loved ones, accoring to the National Retail Federation's (NRF) 2008 Valentine's Day Consumer Intentions and Actions Survey, conducted by BIGresearch.
And when it comes to loved ones, include puppy loves among them. Some 17.2 percent of celebrators also plan to spend on their pets this Valentine’s Day, to the tune of $367 million. All told, the average consumer plans to spend $122.98 on Valentine’s Day, similar to last year’s $119.67. Total spending on Valentine’s Day is expected to reach $17.02 billion, according to the NRF survey.
As for gift categories, greeting cards still remain the most popular choice, though at 56.8 percent, the number of people planning to purchase one is down from last year's 62.8 percent. Traditional gifts, such as candy, flowers and jewelry will also see a slight decrease in popularity this year, with more consumers preferring gifts of experience and gift cards. Nevertheless, nearly 48 percent of consumers will buy candy, 35.9 will buy flowers and 11.8 percent will buy clothing.
Among the surveys other findings: Almost half (48.2 percent) of all consumers plan to celebrate Valentine’s Day with a special night out, compared with 45.3 percent last year; 12.3 percent will give a gift card, compared to 11.3 percent giving gift cards last year; and the majority of consumers celebrating Valentine's Day will spend the most on their significant other or spouse.
