Majority of Consumers to Spend Up to $100 on Valentine’s Day Gifts, PriceGrabber® Survey Finds
36 Percent of Shoppers Plan to Compare Prices in-Store Using Mobile Phones
LOS ANGELES, Feb. 7, 2013, Online shopping site PriceGrabber® just released results of its 2013 Valentine’s Day Shopping Survey, revealing a majority of consumers plan to shower their loved ones with gifts this Valentine’s Day holiday. Sixty-two percent of consumers plan to spend up to $100 on gifts this year, a decrease from 68 percent in 2012. However, 36 percent of consumers plan to spend more than $100 compared to 28 percent in 2012. Conducted from Jan. 22 to Jan. 31, 2013, the survey includes responses from 2,251 U.S. online shopping consumers.
Valentine’s Day Shopping Budgets On Par or Slightly Higher than 2012
When consumers who plan to celebrate Valentine’s Day were asked about their spending habits compared with last year, 52 percent indicated they plan to spend the same amount as in 2012. Twenty-six percent will spend more, 17 percent will spend less, and 5 percent will not purchase a gift this year. According to PriceGrabber’s survey, the economic climate continues to be a relevant factor in shoppers’ mindsets, with 55 percent indicating the economy will have an effect on their Valentine’s Day purchasing decisions in 2013.
Consumers to Hit Stores and Shop Online for Gifts; Mobile Makes a Presence
Shoppers plan to purchase Valentine’s Day gifts in a variety of ways this year, with online and mobile shopping continuing to increase in popularity. When consumers were asked to select all of the ways in which they plan to purchase Valentine’s Day gifts, 69 percent indicated they would buy gifts from a store, up from 54 percent in 2012. Fifty-six percent of consumers said they would purchase gifts online, a significant increase from 34 percent last year. This was followed by 5 percent of shoppers that indicated a purchase via electronic tablet device, compared to 1 percent in 2012; and 4 percent cited a purchase using a mobile phone, a slight increase from 2 percent last year.
“Consumers continue to shop and conduct product research in advance of making purchases in order to find the best pricing on products. We expect this trend to continue as shoppers hit the stores and go online to make their Valentine’s Day gift purchases this year,” said Rojeh Avanesian, vice president of marketing and analytics of PriceGrabber.com. “Our survey showed that 36 percent of consumers plan to compare prices using their mobile phones when Valentine’s Day gift shopping in brick-and-mortar stores, a jump from 29 percent in 2012, revealing that consumers are increasingly using their mobile devices to look for the best deals.”
Many shoppers will celebrate with an evening out and purchase greeting cards
When consumers were asked to select all of the things they plan to spend money on during their Valentine’s Day celebration, 39 percent indicated they would spend money on an evening out. This was followed by 35 percent of shoppers who noted they would purchase a greeting card for a loved one; 22 percent will buy flowers; and 20 percent will purchase candy. Fourteen percent of consumers selected jewelry, another 14 percent cited clothing and an additional 14 percent said they plan to buy themed gifts, such as stuffed animals or a heart-shaped present.
Most will shop one week in advance and plan to use cash and credit cards for purchases
When consumers who plan to celebrate Valentine’s Day were asked when they plan to purchase their gifts, 43 percent said they will do so one week in advance. Twenty-five percent of shoppers will purchase gifts two weeks prior to Valentine’s Day, 22 percent will shop within 48 hours of the gift giving day, and 10 percent will shop three weeks prior. Cash and credit cards are the most popular forms of payment among consumers planning to buy Valentine’s Day gifts this year. When survey respondents were asked to select all of the ways in which they plan to pay for a gift purchase, 55 percent said a credit card and another 55 percent cited cash. Eleven percent of consumers indicated they will use gift cards to make purchases.
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