Jewelry will account for a significant chunk of Valentine’s Day spending but will lag behind other traditional gifts, according to a recent National Retail Federation report.
The report, 2003 Valentine’s Day Consumer Intentions and Actions Survey, found that 21.1% of those surveyed will buy jewelry. This compares with 80.1% of men who will buy their loved one a Christmas card, 63.5% who plan to send flowers, 58.7% who will celebrate with an evening out, and 32.3% who will be giving candy to their loved ones.
Men, on average, will spend $125.96 while women plan to spend $38.22.
“It seems very clear to us this year that most men plan to celebrate Valentine’s Day in very traditional ways,” said NRF President and CEO Tracy Mullin.
The study also found that young adults show the most enthusiasm for Valentine’s Day, with the average 18-34-year-old planning to spend almost $140 on the holiday. Americans 35-54 plan to spend $58.65 while consumers 55 and older plan to spend less than $50 ($46.67).
The NRF 2003 Valentine’s Day Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to Valentine’s Day. The survey was conducted for NRF by BIGresearch. The poll of 1,697 consumers was conducted from January 28-30. The consumer poll has a margin of error of plus or minus 1%.