Time is running out for Valentine’s Day… but thankfully not for e-commerce providers.Valentine’s Day purchases go down to the wire, with nearly two-thirds of Valentine’s Day shoppers waiting until the last week to make their purchase Tweet This!.
And purchase they will! 53.9% of Americans are going to celebrate this year and on average, they’ll spend $136.57 on a whole host of gifts and evenings out Tweet This! according to the National Retail Federation.
Valentine’s Day shoppers are responsive to offers according to the NRF Research:
- 48.6% of consumers would spend $10 more when there was a really good sale or promotion Tweet This!
- 36.4% of consumers would spend $10 more when they couldn’t find the gift they originally planned to purchase Tweet This!
- 32.4% of consumers would spend $10 more when they were offered a free gift with the purchase Tweet This!
The big loser this Valentine’s Day (besides me, hah!) are greeting card companies. Only 47% of consumers are planning to give a Valentine’s Day card compared to 63% a decade ago.
Millennials and Valentine’s Day
According to NRF research, a higher percentage of younger (18-24) and older (25-34) Millennials plan to buy a Valentine’s Day gift… but not necessarily the purchase of a thing. Experiential gifts are at the top of the list for young people – so packaging up a romantic weekend trip or a spa day may get more of a sales response.