Results from Reader Survey: What are Your Expectations for this Valentines Day?
Earlier this month, we asked you, our readers and @BDOConsumer
Twitter followers, to share your expectations for consumer spending this Valentine’s Day.
Readers seem to be divided in their beliefs about spending this Valentine’s Day, with 38 percent anticipating consumers will spend more on their loved ones than they did last year and 34 percent expect the opposite. For those of you optimists, the National Retail Federation’s Valentine’s Day Consumer Spending Survey
reveals that the majority of the public is feeling the love, too. According to the survey, total spending is expected to reach $19.7 billion this year, a survey high.
“As the first major consumer holiday of 2016, Valentine’s Day could provide a positive boost in spending our economy needs,” said NRF President and CEO Matthew Shay.
What do our readers think consumers will spend their dollars on? Forty five percent reported candy and/or dinner and drinks will be the most popular expenditures this weekend. And at a close second, 39 percent expect more dollars to go toward flowers. The NRF estimates that $1.9 billion will be spent on flowers this year, and with an emerging group of flower-delivery start-ups filling orders, these dollars may not be going toward traditional red roses and baby’s breath bouquets. Rather, sites like BloomNation and Florabrook are focusing on more unique designs and plants such as decorative kale and eucalyptus.
Speaking of where consumers are purchasing, nearly two-thirds of you expect most consumers do their Valentine’s Day shopping online, compared to about one-third who think more purchases will be made in-store.
We look forward to seeing whether actual spending will align with your predictions!