I was reading a recent study done by BIG research for the National Retail Federation about Valentine’s Day retail sales this year. Did you know that the total spend will top $15.7 billion? That’s a huge increase over last year. The average person will shell out $116.21 on traditional Valentine’s Day merchandise this year, up 11% over last year’s $103.00!
So who is doing all of this spending? Spouses get the most of that chunk of change and rightly so, topping out at about $69, while our poor little pets get just $5. Men ($158) will spend more than twice the amount women do ($75).
According to this study “Discount stores (36.6%) will be the most popular shopping destination, but department stores (30.5%), specialty stores (19.4%) and online (18.1%) will share much of the holiday traffic as well. Others will check out their local florist (16.8%) and jewelry store (9.5%).”
So you may want to get your email marketing messages out there now and capitalize on this growth for Valentine’s day (or your competitor will!).
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