Which Industries Are the Most Successful During Valentine’s Day?

Ever wonder which types of businesses cupid’s arrow snags the most throughout the season surrounding Valentine’s Day? While some of the answers won’t surprise you (like florists and candy shops enjoying a strong sales boost), others may. Did you know that in recent years one of the most popular gifts to give isn’t a bouquet of roses or a dinner date out, but the gift of experience via a gym membership or outdoor adventure? Or that now more than ever one of our biggest Valentines include our pets? Utilizing statistics from the National Retail Federation throughout 2014-2017, we’ve rounded up a look at February 14th’s greatest hits by the numbers to see which industries are consistently successful at spreading the love.

2017 by the numbers

54.8% — consumers celebrating Valentine’s Day in 2016

$136.57 — what the average person is expected to spend this year

$18.2 billion — total spending

What consumers are buying…

50% — candy

47% — greeting cards

37% — an evening out

35% — flowers

24% — gift of experience (concert tickets, gym membership, outdoor adventure)

19% — jewelry

19% — clothing

16% — gift cards and gift certificates

Men and Women: spending an average of $85.21 on gifts for significant others.

Celebrating more than couples…

$26.59 — other family members like children and parents

$6.56 — children’s classmates and teachers

$6.51 — friends

$4.27 — coworkers

$4.44 — pets

Where we shop…

35% — department stores

32% — discount stores

18% — florist

18% — specialty store

How we shop…

27% — online

15% —local business

 

2016 by the numbers

54.8% — consumers celebrating Valentine’s Day in 2016

$146.84 — what the average person spent on candy, flowers, apparel and more

$19.7 billion — total spending

What consumers are buying…

50% —candy

47.8% — greeting cards

38.3% —an evening out

24% — gift of experience (concert tickets, spa, art class)

19.9% — jewelry

$2 billion — apparel

$1.9 billion — flowers

Men and Women: spending an average of $89.86 on gifts for significant others.

Celebrating more than couples…

$27.79 — other family members like children and parents

$7.08 — children’s classmates and teachers

$5.83 — coworkers

$681 million — pets

Where we shop…

34.5% — department stores

31% — discount stores

19.4% — florist

19.1% — specialty store

How we shop…

27.9% — online

15.4% — local business

 

2015 by the numbers

$142.31 — what the average person spent on candy, flowers, apparel and more

$18.9 billion — total spending

What consumers are buying…

53.2% —candy

37.8% — flowers

35.1% — an evening out

21.1% —jewelry

$2 billion — clothing

$1.5 billion — gift cards

Men: average spending $190.53 on gifts for significant others

Women: average spending $96.58 on gifts for significant others

Celebrating more than couples…

$26.26 — other family members like children and parents

$6.30 — children’s classmates/teachers

$5.28 — pets

Where we shop…

36.5% — department stores

35.2% — discount stores

19.4% — specialty stores

18.7% — florists

How we shop…

25.1% — online

13.3% — local business

Spending habits per age group…

25 to 34 — $213.04

35 to 44 — $176.21

18 to 24 — $168.95

 

2014 by the numbers

54% — Americans celebrating with loved ones in 2014

$130.97 — what the average person spent on candy, cards, gifts, dinner and more

$17.3 billion — total spending

What consumers are buying…

51.2%) — greeting cards

48.7% — candy

37.3% — flowers

37% — an evening out

19% — jewelry

15.8% — clothing

14% — gift cards

Men: average spending $108.38 on gifts for significant others

Women: average spending $49.41 on gifts for significant others

Celebrating more than couples…

59.4% — other family members like children and parents

21.7% — friends

20.4% — teachers

19.4% — pets

12.1% — colleagues

How we shop…

32.2% — tablets

26.1% — online

24% — smartphones

Source: National Retail Federation

Let us be the Valentine your small business is dreaming of! If you’re ready to incorporate or form an LLC for your business, give us a call at 877-692-6772 and we can help you get started!