The Receipts Have It: Men More Romantic
By George Anderson
A research study conducted for Wal-Mart found that more than 70 percent of consumers plan to buy a Valentine’s Day gift, spending an average of $51.
Seventy-five percent of men plan to buy a gift compared to 70 percent of women. Men will also spend much more than women – $63 on average compared to $39.
Younger consumers tend to be more demonstrative of their affection when judged by money spent. Shoppers, 18 to 24 plan to spend an average of $92 on gifts, compared with $61 for shoppers 25 to 34 and $50 for those between 35 and 44.
Forty-six percent of consumers will make their Valentine’s Day purchase the first week in February while 36 percent will buy gifts somewhere between February 12 and 14.
Women tend to shop earlier for the holiday than men. Fifty-three percent of women plan to buy a gift at least one week in advance of Valentine’s Day. Only 39 percent of men could make the same claim.
Moderator’s Comment: Do retailers do enough consumer
research, or are they doing enough with the research they have, to get closer
to their shoppers/prospects?
Very clever of Wal-Mart to use consumer research to set
a $51 basement, er average, for Valentine’s Day purchases.
Few will want to admit that they spent less than average
to splurge on their romantic partner.
Valentine’s Day (especially for the less romantic) is
not about saving money. It’s usually an act of self-preservation.
[George
Anderson – Moderator]