I was thinking about consumerism and how much companies make during big holidays. I am not surprised by the many gifts, chocolate boxes, teddy bears, and other treats laid out for Valentines Day. I decided to look up the statistics of how much consumers in the U.S. spend on the holiday. What I discovered was expected and shocking. I read many articles and these articles listed below where the most informative.
This is the article by the NRF with the results of Valentine’s Spending (2018)
U.S. consumers are expected to spend an average $143.56 on Valentine’s Day as 55 percent of the population celebrates this year, an increase from last year’s $136.57
Top Categories and Cost:
Jewelry ($4.7B), Evening Out ($3.7B), Flowers ($2.0B), Candy ($1.8B), Clothing ($1.9B)
Valentine’s Day 2018 Gifts of Experience
Categories: Planned to give, Wanted to receive, None of the above
Out of the three categories 23.7% planned to give out of the 42.3% that wanted to give. I think gifts of experience are nicer because you can create unique memories. None of above was 42.8%.
It is bewildering to know that Americans alone spend $19.5B per yer on this holiday! I knew it was high but I never realized it was in the billions!
Much Needed gave detailed statistics of Valentines 2019 for US & UK. Below are some of the statistics from each category that I thought were interesting.
Not only is the day a popular time for romance but it also is one of the biggest days for spending in both the United States and the United Kingdom.
PERCENTAGE OF PEOPLE PARTICIPATING?
Favorite stat was that 15% women sent themselves flowers
MOST LIKELY TO BUY FOR THE HOLIDAY?
Widows account for the smallest group of spenders at 20%.
WHO ARE PEOPLE BUYING FOR?
MOST POPULAR BUYS FOR VALENTINE’S DAY?
Cards are one of the least popular purchases with 15% of people exchanging cards for the Valentine’s holiday.
WHAT DO WOMEN MOST WANT FOR THEIR GIFTS?
17% said they wished they received a new car.
WHERE DO BUYERS PERFORM THEIR SHOPPING?
35% department stores
It is also estimated that those who do shop online are likely to spend up to 30% more on their purchase than those who will shop in a traditional store.
While the first exchanged Valentine’s occurred during the 15th century, they weren’t mass produced until the 1800’s.
This was my favorite article because there was much information on spending habits of consumers. It was enlightening to discover this information.
Statista provided a Valentines spending graph from 2004 to 2019. The price increase $7.91B between the period of 15 years.
E Marketer provided Valentines stats from the NRF article and they also had graphs. One of the things I liked about this article is that it included self love spending stats. More people are spending on themselves and practicing self love. That is great to know!
A November 2018 survey from Finder found that consumers will spend roughly $236 on themselves this Valentine’s Day—more than triple last year’s $71.
The purpose of this article is to be aware of spending habits throughout the holiday. It is nice to buy and give gifts but $19.5B in US only is a lot of money spent. This is a great reminder that Valentines can get expensive depending on the gifts given or received.