Updated February 07, 2013
Valentine's Day is one of the major spending holidays in the U.S. for consumers, and one of the major events on the retail shopping calendar. Each year, the annual Valentine's Day Consumer Intentions and Actions survey conducted by the BIGinsight for the National Retail Federation (NRF) predicts how much consumers will buy into the annual Valentine’s Day tradition, and for those who participate, how much love they intend to share with U.S. retailers and restaurants while they participate in the annual tradition of buying retail tokens and expressions of love.
A comparison between the pre-recession year of 2007, the recession year of 2008 and the post-recession years of 2011, 2012, and 2013 not only reveals consuming trends for Valentine's Day holiday in general, it also reveals general trends about the state of the US economy. Trends in where consumers shop, what kind of gifts they buy, and how much they're willing to participate in Valentine's day have shifted noticeably since 2007. In 2013, consumers are not planning to spend with abandon on Valentine’s Day. This is in alignment with the less than stellar 2012 Christmas holiday shopping season, and reflects some combination of low consumer confidence and flagging interest in holiday spending. It will be up to U.S. retailers to create excitement with compelling offers to keep Valentine’s Day retail traditions from being stale and uninspiring to consumers.
What follows are some of the key results of the NRF Valentine's Day consumer spending survey, which reveal where consumers plan to focus their attention in the weeks before Valentine's Day and how members of the U.S. retail and restaurant industry need to shift along with consumers in order to capture their attention and a significant portion of the Valentine's Day wallet.
Pre-Recession and Post-Recession Valentine's Day Consumer Shopping, Buying, and Spending Predictions From the NRF:
Do you plan to celebrate Valentine's Day this year?
YES
2013 - 59.9%
2012 - 59.4%
2011 - 58.1%
2008 - 61.3%
2007 - 63.4%
How much money do you plan to spend on Valentine's Day gifts for:
VALENTINE'S GIFT SPENDING FOR SIGNIFICANT OTHER / SPOUSE
2013 - $10.4 billion
2012 - $10.3 billion
2011 - $9.3 billion
2008 - $11.0 billion
2007 - $11.3 billion
VALENTINE'S GIFT SPENDING FOR OTHER FAMILY MEMBERS (CHILDREN, PARENTS, ETC.)
2013 - $3.77 billion
2012 - #3.5 billion
2011 - $3.1 billion
2008 - $3.3 billion
2007 - $3.5 billion
VALENTINE'S GIFT SPENDING ON PETS
2013 - $0.85 billion
2012 - $0.52 billion
2011 - $0.681 billion
2008 - $0.310 billion
2007 - NA
Which gifts do you plan to give on Valentine's Day?
VALENTINE'S GIFTS OF CANDY
2013 - 51.0%
2012 - 50.5%
2011 - 47.5%
2008 - 47.7%
2007 - 48.4%
VALENTINE'S GIFTS OF FLOWERS
2013 - 36.6%
2012 - 36.0%
2011 - 34.3%
2008 - 35.9%
2007 - 36.7%
VALENTINE'S GIFTS OF JEWELRY
2013 - 19.7%
2012 - 18.9%
2011 - 17.3%
2008 - 16.6%
2007 - 17.9%
VALENTINE'S GIFTS OF CARD
2013 - 54.7%
2012 - 52.0%
2011 - 52.1%
2008 - 56.8%
2007 - 62.8%
VALENTINE'S GIFTS OF AN EVENING OUT
2013 - 36.2%
2012 - 35.6%
2011 - 34.6%
2008 - 48.2%
2007 - 45.3%
VALENTINE'S GIFTS OF CLOTHING
2013 - 15.6%
2012 - 14.6%
2011 - 14.4%
2008 - 11.8%
2007 - 11.6%
VALENTINE'S GIFTS OF GIFTCARDS/GIFT CERTIFICATES
2013 - 15.0%
2012 - 13.3%
2011 - 12.6%
2008 - 12.3%
2007 - 11.3%
OTHER VALENTINE'S GIFTS
2013 - 9.5%
2012 - 10.4%
2011 - 11.2%
2008 - 10.1%
2007 - 10.0%
TOTAL VALENTINE'S DAY CONSUMER SPENDING PREDICTED
2013 - $18.6 billion
2012 - $17.6 billion
2011 - $15.7 billion
2008 - $17.0 billion
2007 - $16.9 billion
More About Consumer Holiday Spending Trends:
Trending Retail Topics | Weekly Retail Newsletter | Follow on Twitter | "Like" on Facebook
