Nationwide This Valentines Day, consumers are set to spoil their loved ones in a big way. The average person celebrating the holiday will spend $126.03, up 8.5 percent from last years and the highest in a 10-year history, according to the National Retail Federation’s 2012 Valentines Day Consumer Intentions and Actions survey.
NRF President and CEO Matthew Shay says, As one of the biggest gift-giving holidays of the year, its encouraging that consumers are still exhibiting the desire to spend on discretionary gift items, a strong indication our economy continues to move in the right direction. Anticipating high foot traffic in the coming weeks, retailers have replenished their inventories and will entice eager shoppers with great deals on everything from special menu items at restaurants to clothing to flowers and, of course, chocolates.
Better Halves will spend most on their partners, an average o
f $74.12. $25.25 will be spend on their children, parents or other family members, $6.92 on friends and $4.52 on their pets.
According to the survey, women are expected to spend an average of $85.76 on clothing, jewelry, greeting cards and more, while men will spend $168.74.
Besides traditional gifts here is a list of other items celebrants are expected to buy.
18.9% will buy jewelry.
13.3% will buy gift cards.
50.5% will buy candy.
36% will buy flowers.
35.6% will treat to a nice evening out.
Some will give the gift of choice.
Here is a list of the top places to shop for a Valentines gifts.
Discount stores, 37%
Department stores, 33.6%
Online shopping, 19.3%
Specialty stores, 20.2%
Floral shops, 17.8%
Jewelry stores, 10.6%
Specialty clothing stores, 6.6%
Valentines Day celebrants will be using their smartphones and tablets to research and purchase gifts. According to the survey, 53.8% of tablet owners will use their device to research products, compare prices, redeem coupons, look up retailer information or purchase products while 40.4% of smartphone owners will use their mobile device to do the same.