Whatever happened to superhero cards taped onto a box of Sweethearts being enough?
Love does not equal money. But today, the actions of the average American will have you thinking otherwise. The National Retail Foundation has the numbers to prove it.
The NRF 2011 Valentine’s Day Consumer Intentions and Actions Survey discovered that in America, it’s not the thought that counts — it’s the damn gifts.
1. THE INDUSTRY
American’s are predicted to spend $1.7 billion on flowers, $1.5 billion on candy and $3.4 billion in a romantic restaurant. The average person will shell out $116.21 on traditional Valentine’s Day merchandise this year, up 12.8 percent over last year’s $103.00. Consumers will shell out $3.5 billion on jewelry this Valentine’s Day, up from an estimated $3 billion last year. Total holiday spending is expected to reach $15.7 billion.
2. THE SEXPECTATION
Women are predicted to spend $75.79 on Valentine’s Day, whereas men are predicted to spend $158.71. What is with the gift gap? Perhaps it has to do with the 20 percent increase in condom sales. Viagra, lingerie and contraceptive sales jump five-fold come February. As the sex market goes limp in March, at home pregnancy tests reach an all time high.
The NRF 2011 Valentine’s Day Consumer Intentions and Actions Survey, conducted for NRF by BIGresearch, was designed to gauge consumer behavior and shopping trends related to Valentine’s Day. The poll of 8,913 consumers was conducted from January 4-11, 2011. The consumer poll has a margin of error of plus or minus 1.0 percent.