Muted Valentine’s Day spending in 2021

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 12, 2021, 3:05 AM GMT+0

Numerator’s recent study looked into how American consumers plan to spend Valentine’s Day.

With the pandemic impacting Valentine’s Day celebrations, consumer spends are predicted to drop this year. According to the report, only 30.9% of consumers plan to buy flowers as gifts in 2021, a 14.9 point drop from 45.8% in 2020.

Other holiday-related gifts like clothes (-12), accessories (-10), jewellery (-9.9), alcohol (-9.5), and candy (-9.5) are also witnessing a drop. 74.9% of consumers plan to give candy as a Valentine’s Day gift in 2021. 16.2% will opt for jewellery and only 9.1% plan to gift electronics.

However, over 50% of consumers plan to buy Valentine’s Day gift online. 57% would shop for gifts from mass retailers like Target and Walmart. Cooking at home (34.7%), at-home entertainment (29.3%), and order takeout/food delivery (25.9%) are the top activities consumers have planned for Valentine’s Day.

Read the original article

[2 minute read]

Explore more data & articles