Cupid to ring registers on Valentine’s Day
January 31, 2005-- Home Textiles Today,
WASHINGTON, D.C. — The NRF 2005 Valentine's Day Consumer Intentions and Actions Survey, conducted by BIGresearch for NRF, found that the average consumer will spend $97.27 on Valentine's Day, down slightly from $99.24 last year. However, 61.8 percent of consumers plan to celebrate the holiday, up from 59.8 percent one year ago.
In all, 2005 Valentine's Day spending is expected to reach $13.2 billion.
Greeting cards remain the most popular Valentine's Day gift this year, with nearly two-thirds (66.9 percent) of consumers planning to purchase at least one card for the holiday. Nearly half of consumers will celebrate by buying candy (49.4 percent) or treating themselves to an evening out (47.4 percent). Additionally, more than half of men (57.8 percent) plan to buy flowers and one in five (18.1 percent) plan to purchase jewelry for Valentine's Day.
The study also found that the average person plans to spend $58.85 on their significant other or spouse. Consumers plan to spend $21.49 on other family members, $5.42 on friends, $3.76 on children's classmates and teachers, and $2.73 on co-workers. Consumers will spend an additional $5.02 on other people like neighbors and babysitters.
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