Cautious Spending Predicted for Valentine’s Day

Cautious Spending Predicted for Valentine’€™s Day

Valentine’€™s Day – the holiday we use to show others that we care€“ is just around the corner. Although this holiday is traditionally a popular gift-giving event, this year cautious consumers may not be quite ready to splurge as much as in the past. In the new 2014 National Retail Federation Valentine’€™s Day spending survey conducted by Prosper Insights and Analytics, it is predicted that 54 percent of Americans will celebrate with their loved ones this year, down from 60 percent last year. The average person will spend $133.91, only slightly up from last year’s $130.97.

Men will spend more on gifts for their significant others than women ($108.38 compared to $49.41), but other gift recipients will include family members (59.4%), friends (21.7%), teachers (20.4%), and colleagues (12.1%). 

Candy, flowers, jewelry, clothing, an evening out, or a greeting card are gifts that still top the list of products expected to be purchased.  Online shopping and use of smartphones and tablets to research and compare products will remain popular shopping methods. Total spending is expected to reach $17.3 billion.

What better time than now to use your NCR Counterpoint CustomerConnect to identify those customers who would most likely appreciate an email or flyer about your best buys and best prices for Valentine’s Day gift-giving. Don’t have CustomerConnect yet? Want to learn more about it? 

All it takes is a call to us at 800/425-672-4806, or you can email us for more information. Don’t let another holiday go by without this profit-generating tool!

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