January 25, 2005
Study Says Jewelry, Watches Among Top Gifts for Valentine's Day
A Unity Marketing survey found 70% of gift-givers honor Valentine's Day by giving a present. These gift-buyers will spend approximately $135 this year buying gifts, up 6% from 2004's average of $126. Flowers and plants, candles, jewelry and watches top the list of popular gifts. Among the 15 popular giftware items surveyed, the top gifts among Valentine's Day givers are flowers and plants (56%); candles and accessories (53%); and jewelry and watches (50%), followed by plush or stuffed animals (41%). The study surveyed 950 gift-givers who spent over $250 throughout the year, not just at Christmas. Out of the seven major gift-giving holidays, Valentine's Day is third, after Christmas (96% of respondents buy gifts) and Mother's Day (74%).
"Valentine's Day is going to be more important than ever for retailers and marketers, because many retailers experienced a somewhat disappointing Christmas 2004," says Pam Danziger, president of Unity Marketing, Stevens, PA, and author of Let Them Eat Cake: Marketing Luxury to the Masses as Well as the Classes.
Women are as likely to give Valentine's Day gifts as men 68% of women and 72% of men buy presents. Women buy more Valentine's gifts (2.7 presents on average) than men (2.2 presents). Because of this, retailers need to merchandise gift items suitable for either to give and receive. Men still spend more on Valentine's Day gifts compared with women.
Younger buyers are more likely to buy gifts 85% of millennial generation adults (born from 1977 to 1985) bought a Valentine's Day gift last year, only 76% of Gen Xers (1965-1976) and 68% of Baby Boomers (1946-1964) did.
Households with children under 18 years of age are more likely to celebrate Valentine's Day with a gift (78%) than those without children (68%). Households with children spend more and give more individual gifts.