2014 Valentine's Day By The Numbers Valentines Day is an important day for couples to express their love for one another. This doesn't require money, but that doesn't stop the billions from being spent. BY STEVE COOPER
Courtesy of FTD Companies, Inc.
A Valentine's delight of chocolate dipped strawberries from FTD.
“ 80% of women plan to celebrate their love on Valentine's Day by posting on social media, 72% of men expect to do the same.”
It's that time of year again. Cupid's arrows are flying, as are the data points around this romantic holiday. It's really close to Valentine's Day, but there's still time to have an impact. According to flower retailer, FTD Companies, Inc., Valentine's Day is a very last minute holiday for shopping, whereas Mother's Day and Christmas are typically 3-4 week selling seasons. FTD has indicated that this year is particularly last minute for guys with the holiday falling between two giant sporting events: the Super Bowl and the Olympics… adding that the severe weather in parts of the country is adding to the last minute shopping. If that weren't enough, e-commerce continues to make it easier for guys to wait longer before making a purchase.
When all is said and done, however, Valentine's Day is a multi-billion dollar industry and I've compiled a list of Valentine's Day by the numbers in 2014.
According to a survey from the National Retail Federation, the world’s largest retail trade association:
54% of Americans will celebrate compared to 60 percent in 2013.
26.1% plan to shop online, down a smidgen from 26.3% last year.
24% will research products or compare prices on their smartphones, 32.2 percent on tablets.
$133.91: The amount the average person plans to spend on candy, cards, gifts, dinner and more—up from $130.97 in 2013.
$17.3 billion: The total expected spending for on Valentine's Day for consumers above the age of 18—down from $18.6 billion last year.
48.7% will buy candy—of those celebrating—37.3% will give flowers, 51.2% will send greeting cards, 19% will buy jewelry, 37% will celebrate with an evening out, and 14% plan to give gift cards.
$3.9 billion: The amount expected to be spent on jewelry.
$3.5 billion: The amount expected to be spent on a night out.
$108.38: The amount men will spend on their significant other; twice as much as women ($49.41) are expected to spend.
59.4% will spend money on their family members; others shown love and appreciation for their non-romantic relationships include friends (21.7%), teachers (20.4%), colleagues (12.1%) and pets (19.4%).
According to a survey from security software company, McAfee:
98% of respondents take photos with their mobile device, and 54% send or receive intimate content; unlike last year 69% are now securing their smartphone with a password or passcode—up 30% from 2013.
80% of women plan to celebrate their love on Valentine's Day by posting on social media, 72% of men expect to do the same.
50% of couples share mobile phone content and 48% share email accounts.
1 in 5 people are likely to log into their significant other’s Facebook account at least once a month.
Lastly, a new study by university researchers published in the Journal of Consumer Research have some results marketers will be interested in. The researchers conducted four experiments asking consumers to look at various advertisements. These consumers were shown an image of a chocolate cake—some with a tagline and some without. Others were also asked to smell a sachet with the fragrance of chocolate cake. Each of the participants put cotton balls in their mouth so researchers could measure the absorbed saliva. Not surprisingly, those who saw the picture of chocolate cake and smelled the sachet released the most saliva. Those who were just told to imagine the smell of cake in a tagline also released a greater amount of saliva compared to those who were just shown a picture. The researchers concluded that just the imagined odor of food resulted in consumers salivating more and then ultimately consuming that item in larger quantities.
If you have a restaurant with a special Valentine's Day chocolate cake, it might be beneficial to add a scratch and sniff patch on the menu. Happy Valentine's Day!