News Brief
Valentine's Day Retail Spend Expected To Be Flat
Jan 30, 2008, 5:00 AM
According to the National Retail Federation's 2008 Valentine's Day Consumer Intentions and Actions Survey, conducted by BIGresearch, 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.
Traditional gifts, such as candy, flowers and jewelry, will see a slight decrease in popularity this year with more consumers preferring gifts of experience and gift cards.
Almost half (48.2%) of all consumers plan to celebrate Valentine's Day with a special night out, compared to 45.3% last year, and 12.3% will give a gift card, compared to 11.3% last year.
Greeting cards still remain the most popular choice, although the number of people planning to purchase one is down from last year (56.8% versus 62.8% last year). Nearly 48% of consumers will buy candy, 35.9% will buy flowers and 11.8% will buy clothing.
--Nina M. Lentini
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