retail

Consumers To Spend Big For Cupid

Whether they’re munching on heart-shaped pretzels from Auntie Anne’s, buying into Pandora’s blood-red “explosion of love,” or just chasing down some flowers, Americans are feeling romantic this year, with the National Retail Federation predicting overall spending of an average of $144 each this Valentine’s Day.

The Washington D.C.-based trade organization’s survey finds that an estimated 55% of consumers plan to mark the holiday somehow, and that total spending may reach $19.6 billion. That’s up from $18.2 billion last year, and just shy of 2016’s record, when consumers spent an average of $147.

Jewelry, as usual, looks like it will get the biggest chunk, with about 19% of shoppers planning on spending $4.7 billion. (Marketers like Pandora are targeting shoppers with special collections and promotions.) Flowers, chosen by 36%, come next, and are expected to account for $2 billion. Clothing ($1.9 billion), candy ($1.8 billion) and gift cards ($1.5 billion) come next.

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But as consumers continue to stretch their definition of love far beyond regular romance, they’re looking for more ways to celebrate friends, such as “Galantine’s” gifts, and even themselves. The NRF survey, conducted by Prosper Insights & Analytics and based on some 7,300 adults, reports that 27% of those who say they aren’t celebrating this year have some other alternative celebration.

Marketers are catching on. Candy maker Mars Wrigley Confectionery, for example, is opening a pop-up salon in New York City called Sweet Retreat. Offering candy and chocolate-themed beauty treatment, including manicures inspired by its “Taste the Rainbow” Skittles, “minty fresh” blowouts, smoky eye-makeup looks named for its Dove chocolates and Snickers pedicure for men, the company says the idea is based on its research that 74% of its audience “believe a treat is sweeter when shared with a friend.”

After candy, greeting cards are the most popular way to mark the day, chosen by 46% of the survey, who expect to spend $894 million. Hallmark is hoping to win them over with a first: Vinyl record greeting cards that recipients can play, featuring music from Bruno Mars, Aretha Franklin and INXS.

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