Well, the Valentine’s Day statistics are in, and retailers would like to thank the 55% of you who are taking part. Valentine’s Day spending continues the slow climb it has made since the 2008 crash. This year’s $19 billion will be up 3% from last year, and a new record. Part of that increase, they say, is that V-day is on the weekend this year. For some reason, that leads to extra spending. Why do you think that is?
Each year the National Retail Federation does the tally, and the results are reported far and wide. Here, then, is “Valentine’s Day by the Numbers 2016!”
What are we buying?
- Jewelry $4.5 billion
- Evening out, $4.4 billion
- Flowers, $2 billion
Who are we buying for?
- 89% spouse or significant other
- 61% kids, parents, and other family
- 25% friends
Where are we buying it?
- 35% Department Store
- 31% Discount Store
- 28% Online
Spending by Region
- Northeasterners spend $146
- Southerners spend $129
- Westerners spend $120
- Midwesterners spend $111
Spending by Age
- 25 to 34’s spend the most at $177
- 65-plus’ spend the least at $80
Spending by Category (if you buy these things, here’s what you spend)
- Jewelry: $156
- Evening Out: $72
- Clothes: $71
- Flowers: $37
- Candy: $21
- Cards: $13
- Gift Cards: $13
And, my favorite statistic:
75% of us say not to get us anything, but only 25% mean it!
Beware, gentlemen, that last one is REAL! So, what are YOUR Valentine’s day plans? Let us know over at the MindField Online Facebook page, and Happy Valentine’s Day!