Valentine's Day Statistics: Your Customers' Love Language
Each year on the 14th of February, romantics (sometimes hopelessly) celebrate their partners and loved one’s.
And with Valentine’s Day being a major date on the e-commerce calendar, it’s important to know your shoppers’ love language! In this blog post, Wordans takes a look at some of most important Valentine’s Day statistics to help you learn more about your customers ahead of this holiday.
You’ve felt your consumer pull away and you’re not entirely sure how to bridge this gap. And sometimes, customers wish that you would just listen more…So, we’ll discuss different statistics related to expenditure, choice of gift, and just who exactly are the recipients of these displays of affection!
Table of Contents
Valentine’s Day Spending Statistics
And while Valentine’s Day is a celebration of all-things romantic and lovely, it’s also a time to purchase the perfect gift that encapsulates everything that one might not be able to say! Many will opt for an experience, while others will choose typical gifts such as chocolate, candle-lit dinners, jewelry or roses.
- According to Valentine’s Day statistics, total spending reached a peak in 2020, seeing expenditure of $27.4B. A dip was experienced in 2021 but spending has begun to increase since then, with 2022 witnessing $23.9B and 2023 totaling $25.9B.
- While total expenditure has increased, the percentage of Americans participating in the holiday has decreased. The highest number of participants was recorded in 2009 at 63%, with numbers dwindling since. In 2023, consumers didn’t get overly bitten by the love bug as only 52% celebrated Valentines.
- In 2023, consumers planned on average to spend $192.80 on their loved one.
- And here comes one of the least positive statistics about Valentine’s Day! According to studies carried out, around 3 out of 10 Americans will go into debt from present buying. And 51% of lovebirds estimate that it will take at least two months to pay off the debt racked up! Bulk buying gifts, anyone?
- In 2023, gift buyers were upping the ante with an 8% increase in purchasing fashion and apparel.
Valentine’s Day Gifts Statistics
- Since COVID, there has been an increase in online shopping to find the perfect valentine’s day gift. In 2022 online reigned supreme with 41% of presents being purchased online in comparison to to 2021 with 38%. However, department and discount stores are climbing their way back up the ranks.
- Who splurges the most on this holiday? Men! On average, men will spend almost twice as much as women, at $235 vs $119.
- Planned expenditure also differs according to age-groups. If money could buy love, the 35 – 44 year olds would have it down to a tee, spending $280! Meanwhile, 25 – 35 year olds planned to spend $245 on this holiday.
Valentine’s Day Recipients Statistics
The 14th has become a day to spread the love; and not just with your significant other. From best friends to furry friends, valentine’s day trends show that it’s an event to celebrate love in all its forms. And maybe it’s a day to celebrate your single customers too.
Galentine’s
Since the “Parks & Recreation” episode aired in 2010, Galentine’s has gained in popularity. In 2023, Google searches related to Galentine’s day totaled 322,000 in January. Celebrated on the 13th, this is a day to shower your friends with love, affection and general mushiness!
Co-workers, Kids and Teachers!
The average spending for significant others along with family members was found to be $130.75, with 58% of participants planning to buy for their mom, dad, children etc. And it’s not just limited to our immediate loved-one’s; the 14th of February promotes you to share your appreciation for children’s teacher’s and your work–family. Some team-members can transform the worst 9 – 5 job into a pleasant experience! Consider valentine’s day gifts for coworkers, such as cozy hoodies or cool office stationary.
Pets
Given the major role that pets play in our lives, it’s no surprise that 32% of consumers in 2023 planned to purchase a gift for their four-legged friends! The eternal dog vs cat debate rears its head once again due to Valentine’s Day pet spending in 2021. $31.24 were spent by households to find the perfect gift for their pooch. Felines find themselves in second place with $27.42 being spent per household on cats.
Roses are red, violets are blue, we hope these Valentine’s Day statistics will help bring your costumers closer to you!
