Consumers spend an average of nearly $14B on Valentine’s Day gifts each year. Here’s a look at their buying habits and preferences.
After getting the cold shoulder during the recession, Valentine’s Day spending continues to make a comeback, increasing 5% over the past five years and 23% higher than the lowest point back in the financial doldrums of the late 2000’s. Today’s infographic shows marketers how lovestruck consumers will spend their money on the objects of their affection---which can include their pets and themselves.
Here are some highlights:
- The average Valentine’s Day consumer spends $116, with candy being the most-purchased item
- 180 million Valentine’s Day cards will be exchanged; 85% will be bought by women
- 14% of women say they’ll send themselves flowers on Valentine’s Day
- Consumers spend $367 million on Valentine’s Day gifts for their pets
Whether consumers are buying for their sweeties, themselves, or Fido, the good news for marketers is that 37% of all Valentine’s Day gifts are being bought online. Jump on over to see the entire infographic.