NRF says Valentine’s Day consumer is cautious yet enthusiastic

Valentine’s Day shopping is expected to see a milder enthusiasm from buyers as compared to last year, according to a National Retail Federation survey conducted by BIGinsight. The 2013 Valentine’s Day spending survey shows that the average spending per person to be $130.97( the same was $126.03 last year).

Considering that consumers will be cautious in seeking both ’value price’ in their Valentine’s Day purchases, retailers are drawing consumer attention with much promotional offers. Total spending for Valentine’s day is expected to reach $18.6 billion, according to the survey.

Amongst the various product categories expected to be indulged into this Valentine’s Day, the survey noted that around 19.7 percent of gift givers will indulge in jewellery purchase amounting to spending of about over $4.4 billion on diamonds, gold and silver. Amongst the other product categories, around 51 percent of shoppers are expected to indulge in candy ($1.6 billion worth of spending), 36.6 percent are expected to buy flowers ($1.9 billion worth of spending), 15.6 percent will buy clothing ($1.6 billion worth of total spending), while 15 percent will buy gift cards (spending a total of $1.5 billion).

Around 26.3 percent shoppers will select gifts online (the same was 19.3 percent last year), and is the maximum in the survey’s 10-year history. Also, Additionally, four in 10 (40.7 percent) smartphone owners will use their handhelds to shop for gifts, and 46.9 percent of tablet owners will use their devices to purchase items, research gift ideas and more.

BIGinsight Consumer Insights Director Pam Goodfellow. said “There will be no shortage of deals in the coming days, so frugal consumers will keep a keen eye out for promotions on chocolates, flowers and even dining.”