Seventy-six percent of Valentine's Day shoppers will purchase items in stores, while nearly 60% of online shoppers will pick up their items in stores, according to the International Council of Shopping Centers.
Falling gas prices could help to fuel spending this Valentine’s Day, as more than half of American adults feel they have more money to spend, compared to only 42% in an ICSC survey conducted one month ago. Generally, younger consumers surveyed feel that they have more money in their pockets than older consumers.
“January and February have been growing in importance on the retail-sales calendar, particularly through Super Bowl and Valentine’s Day sales and promotions. This is highlighting that retailers are doing a better job of spreading out sales across the yearly calendar,” said ICSC spokesperson Jesse Tron. “We also continue to see the importance of the physical store as many consumers will take an omnichannel approach to shopping this Valentine’s Day.”
Of those consumers planning to spend money on Valentine’s Day-related purchases, spending will average $96 per adult. The adults who plan to buy jewelry for Valentine’s Day have spent or will spend an average of $191.80; the adults who plan to buy flowers have spent or will spend an average of $34.90; and the adults who plan to buy chocolate and candy have spent or will spend an average of $21.50.
The survey also found that the large number of purchases occurring in brick and mortars this holiday will reflect the following:
- 89% of shoppers plan to buy chocolate/candies
- 88% plan to buy cards/decorations
- 74% plan to buy flowers
- 70% plan to buy jewelry
For those shoppers who will be participating in omnichannel shopping—essentially picking up their online purchases in a store—for Valentine’s Day, the following applies:
- 64% of online jewelry purchases will be picked up in-store
- 67% of chocolate/candies will be picked up in-store
- 51% of flowers will be picked up in-store
[Image courtesy of Getty Images/Robert Daly]