NRF: Consumers to spend $100 for Valentine's Day |
![]() |
Wednesday, 01 February 2006 07:00 PM America/New_York |
According to the National Retail Federation (NRF) 2006 Valentine's Day Consumer Intentions and Actions Survey, conducted by BIGresearch, the average consumer will spend $100.89 on Valentine's Day this year, up slightly from $97.27 last year. With 60.9% of consumers planning to celebrate the holiday, total 2006 Valentine's Day spending is expected to reach $13.7 billion, an increase from $13.19 billion in 2005. Men will be the biggest spenders this Valentine's Day, with the average male spending $135.67, the NRF said, almost double the $68.64 that the average female will spend. Fewer men will be buying flowers (52.3 % vs. 57.8% in 2005); more will be purchasing jewelry (22.4% vs. 18.1% in 2005).
According to the survey, 62% of consumers plan to purchase at least one greeting card for the holiday. Close to half of consumers will buy candy (47.1%) or enjoy an evening out with their significant other (42.1%). Other popular gifts include flowers (32.9%), jewelry (14.6%) and gift cards/gift certificates (10.9%).
|