Popular Valentine’s Day GiftsJanuary 22, 2018
“All you need is love. But a little chocolate now and then doesn’t hurt.”
-Charles M. Schulz
Since Valentine’s Day, or Single’s Awareness Day, is approaching fast, we will examine consumer spending and the top gifts purchased for the romantic occasion. Spoiler alert: the most popular Valentine’s Day gifts are perishables that you can find at most grocery stores—candy and flowers.
Money doesn’t buy love, but a lot is spent in the name of love.
Consumers planned to spend $18.2 Billion on Valentine’s Day in 2017. That was a $1.5 Billion decrease, but Valentine’s Day spending in 2016 was the highest on record. Planned holiday spending in 2017 was 8% higher than it was in 2007.
Although consumers plan to spend the most money on their significant other, they do plan to spend a fair bit on others as well. The average amount budgeted per gift recipient are as follows:
• $85.21 significant other/spouse
• $26.59 family members
• $6.56 classmates/teachers
• $6.51 friends
• $4.27 co-workers
• $4.44 pets
Candy sure is dandy. 94% of people who celebrate Valentine’s Day want candy or chocolate.
It’s the most popular gift given on Valentine’s Day with about 48% of Valentine’s Day celebrants purchasing candy as a gift. Consumers spent an estimated $1.7 Billion on Valentine’s Day candy in 2017, which is a $12.8 Million increase from 2016.
Here’s a roundup of sweet Valentine’s Day facts:
• 58 million pounds of chocolate candy are bought during Valentine’s Day week
• 36 million heart-shaped chocolate boxes purchased for Valentine’s Day
• 8 billion Sweetheart candies produced annually
• 43% of consumers plan to buy themselves a box of chocolate
•47% of women are likely to treat themselves
• 43% of men are likely to treat themselves
• 55% of Millennials under 30 will buy chocolate for themselves
• over 40% of consumers think giving sweets in heart-shaped box makes it even sweeter
• 34% caramels
• 24% chocolate-covered nuts
• 13% chocolate-filled
• 13% cream-filled
• 10% coconut
Roses are red.
Violets are blue.
Love is best said
In flowers. It’s true!
Flowers remain one of the top spending categories on Valentine’s Day, lagging behind spending on an evening out. Consumers spent an estimated $2 Billion on Valentine’s Day flowers in 2017.
What does spending look like for the second-most popular Valentine’s Day gift?
• About 1 in 3 give flowers to their significant others
• Valentine’s Day flowers spending increased $7.1 Million from 2016 to 2017
• 20% of annual flower sales happen around Valentine’s Day
• the most popular flowers include:
• red roses 63%
• mixed flowers 35%
• other types of flowers 25%
• plants 23%