The Allure of Valentine’s Day
While watching television last night, I saw an advertisement for huge (4 feet tall) teddy bears being offered for sale as Valentine Day gifts. The price was nearly $100 dollars each. They were cute, but I couldn’t help wondering if costly items like this one could be sold in the still shaky economy that we’re seeing today. Apparently this is a real possibility, according to National Retail Federation’s 2012 Valentine’s Day Consumer Intentions and Actions Survey, conducted by BIGinsight. Their prediction that “Americans To Pull Out All The Stops This Valentine’s Day” is music to the ears of many retailers.
According to the survey, the average person celebrating the Valentine’s Day holiday will spend $126.03. That’s an increase of 8.5 percent from last year’s $116.21, and the highest in the survey’s 10-year history!
Consumers’ willingness to spend this much on discretionary gift items seems to be a strong indication that the economy is moving in a positive direction. Retailers are gearing up to take advantage of this trend by stocking up on inventories, and offering great deals on everything from teddy bears to chocolates.
Men are expected to spend more than women, an average of $168.74 (more than twice that of women). Not surprisingly, pet owners are expected to spend an average of $4.52 on their beloved furry friends.
The survey also revealed that smartphone owners (40.4%) and tablet owners (53.8%) will be researching products, comparing prices, redeeming coupons, finding retailer information and purchasing gifts using their mobile devices.
Are you prepared to take advantage of great sales possibilities for this upcoming holiday? CounterPoint POS Software can help you with your inventory, and CPMobile will allow you to rake in those “on the go” sales.
Call us at 800-672-4806 for more information or email us!