Valentine’s Day continues to be one of the biggest gift giving days of the year, with the average person spending almost $140 on Valentine’s Day gifts, according to the NRF. With almost $18 billion in total Valentine’s Day spending projected for 2017, Americans continue to spoil their love ones, so reaching these consumers is becoming increasingly important. According to TVB’s 2017 Valentine’s Day analysis, retailers can drive increased consumer spending by using local broadcast television to target shoppers based on geography, demographics and retail categories.
TVB's analysis of Valentine’s Day gift shopping and TV viewing revealed that:
- Projected Valentine’s Day spending in 2017 is estimated at $18B.
57% of Valentine’s Day gift spending is done by men.
Top Valentine’s Day spending categories include jewelry, an evening out, flowers, clothing and candy.
90% of significant others will receive gifts on Valentine’s Day, but other family members, friends, pets, classmates & teachers, and co-workers will also receive gifts.
Key Valentine’s Day categories, such as dining and jewelry, have the highest sales index concentrated in select markets.
Most people will purchase their Valentine’s Day gifts at a department or discount store, as well as purchasing products online.
Top Items Planned for Valentine’s Day Spending
Source: NRF Monthly Consumer Survey, Planned Spending by Category, January 2017
Where Will You Purchase Your Valentine’s Day Gift This Year?
Source: NRF Monthly Consumer Survey, January 2017