Store retailers should expect a traffic boost from consumers on the hunt for Valentine’s Day gifts.
The majority of consumers said their Valentine's Day shopping will take place in-store (87%) compared to online (36%), according to a survey by shopping rewards app Shopkick. The report, which surveyed more than 18,300 people, also found that 67% of consumers planto celebrate Valentine’s Day by giving gifts.
Of the consumers planning to buy gifts, the majority are taking the traditional route by purchasing Valentine's Day cards (60%) and candy (59%). Consumers will also give clothing and accessories (26%), gift cards (26%), food items (24%) and flowers (21%).
When it comes to how much consumers are planning to spend this Valentine's Day, 50% said $50 or less. Other consumers plan to spend between $51 and $100 (23%), $101 and $150 (9%) or over $151 (8%).
• Cost is top of mind for 49% Valentine's Day gift-givers, but other considerations include style (21%), brand and value alignment (19%) and convenience of delivery (11%).
• The majority of consumers (63∞) plan to spend about the same amount of money on Valentine’s Day this year as they did last year. The 19% who plan to spend more said it is because they want to make up for not being able to fully celebrate last year (31%).
Those who plan to spend less (18%) are doing so because their finances have been impacted and they need to budget (49%).
• Swapping Valentine’s at school is a tradition that lives on according to 52% of consumers. Most (81%) are buying them for their kiddos rather than making them by hand.
"Consumers fully plan to celebrate Valentine’s Day this year and are shopping in-store to find the right gifts for their loved ones," said Brittany Billings, executive VP, strategic markets and marketing at Shopkick. "For the next couple of weeks leading up to the holiday, retailers should be prepared for foot traffic, and offer a pleasant and safe in-store experience."