Discover® Card’s Third Annual Valentine’s Day Shopping Survey Reveals the Way to Someone’s Heart is Through Their Stomach
Consumers Planning To Buy A Gift This Valentine’s Day Will Spend An Average of $76.60, With Men Spending Almost Twice As Much As Women
RIVERWOODS, Ill. — Discover([R]) Card today released the results of its third annual Valentine’s Day Shopping Survey, which highlights consumer shopping trends and intentions for the upcoming holiday. The poll also revealed a range of spending comparisons and sentiments towards gift-giving and receiving.
When It Comes to Top Gifts, Men and Women See Eye to Eye
The majority of men surveyed (74 percent) said they plan on buying their Valentine a special dinner, followed by flowers (69 percent) and candy or chocolate (49 percent), which is almost exactly the same as last year’s findings. Fortunately for men, 57 percent of women respondents said they are hoping to receive a special dinner, followed by flowers (48 percent) and then candy or chocolate (33 percent).
Similar to 2007 results, the largest percentage of female respondents (62 percent) said they also plan to purchase their Valentine a special dinner, followed by music, books, DVDs or games (44 percent) and candy or chocolate (42 percent). More than half of male respondents (56 percent) are hoping to receive a special dinner, followed by a full night on the town (34 percent) and travel or getaway (33 percent). Luckily for both, three-quarters (73 percent) of respondents said they’re always or more often than not, satisfied with the gift they receive.
Top Gifts to Give and Receive[TABLE OMITTED]
Women Are More Likely to Reap the Benefits; Singletons to Outspend Married People
According to the results, respondents who plan to buy a gift for their spouse or significant other this Valentine’s Day will spend an average amount of $76.60, compared to last year’s average of $77.20. Women are more likely to reap the benefits of this holiday with men outspending them by nearly double. Men who plan to purchase a Valentine’s Day gift indicated they intend to spend an average of $98.20 on their significant other, down a bit from last year’s average of $100.10. Women said they plan to spend an average of $54.20, up from $51.20.
Not surprisingly, single people may be trying harder to impress that special someone. Single people intend to spend an average of $95.50 on their significant other, while married respondents plan to spend an average of $69.30 on their spouses.
“Valentine’s Day remains a significant shopping day for consumers looking for the perfect gift for that special someone,” said Julie Loeger, senior vice president of branding and rewards at Discover Financial Services. “They’re counting on tried and true methods, as consumers seem to be spending approximately the same amount as last year, as well as making purchases from the same retail categories.”
Valentine’s Day Shopping Habits and Sentiments towards Giving and Receiving
Eighty-five percent of respondents prefer to shop for a Valentine’s Day gift in a store while nearly a quarter (22 percent) indicated they intend to do their shopping online. When it comes to consulting others about their gift selections, the majority said they ask the recipient or a friend, at 52 percent and 41 percent, respectively. Sixteen percent said they ask the store clerk – 22 percent of men do so, whereas only 11 percent of women do.
When asked how they felt about purchasing a Valentine’s Day gift, close to a third of respondents (31 percent) said it was an affectionate gesture, but not really necessary. On the other hand, when asked how they felt about receiving a Valentine’s Day gift a quarter of respondents (25 percent) said they love to. At 30 percent, considerably more women said they love receiving Valentine’s Day gifts compared to 19 percent of men.
Loeger continued: “Discover offers cardmembers many relevant ways to take advantage of exclusive savings when making Valentine’s Day purchases. Through our 5% Cashback Bonus([R]) program, shoppers looking to surprise their significant other with a nice dinner or sweets can earn extra cash rewards when they make purchases at places like restaurants, florists and candy shops. Flowers also are a popular gift option, and when cardmembers shop through our online portal, ShopDiscover.com, they can receive 20% Cashback Bonus on their purchase at FTD.com.”
About the Survey
The results of the Discover Card Valentine’s Day Shopping Survey are from a telephone survey conducted among a national probability sample of 1,018 adults comprising 505 men and 513 women 18 years of age and older, living in private households in the continental United States. Interviewing for this CARAVAN([R]) Survey was completed during the period January 3-6, 2008.
About Discover Financial Services
Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. The company operates the Discover Card, America’s cash rewards pioneer. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments businesses consist of the Discover Network, with millions of merchant and cash access locations, and PULSE, one of the nation’s leading ATM/debit networks. Discover also operates the Goldfish credit card business in the United Kingdom. For more information, visit www.discoverfinancial.com.
COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale Group