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RAPAPORT... The 2013 Valentine’s Day spending survey conducted by BIGinsight for the National Retail Federation (NRF) found only a slight overall increase in expected gift sales this year with the average buyer planning to spend $130.97, up from $126.03 in 2012. However, those who intend to purchase jewelry as a gift accounted for 19.7 percent of shoppers and that figure is up from 18.9 percent in 2012, according to the survey. The NRF expects sales of jewelry and watches to increase 7 percent year on year for Valentine's Day at $4.4 billion. “Valentine’s Day remains one of the biggest gift-giving holidays of the year and although consumers will be conscientious with their spending, it’s great to see that millions of Americans are still looking forward to celebrating with their loved ones,” said NRF's president, Matthew Shay. “Recognizing their customers will shop for both price and value, retailers and restaurants will offer plenty of promotions for anyone looking to spoil those that mean the most to them this February 14th.”  BIGinsight found that 51 percent of shoppers will shower loved ones with candy, 36.6 percent will give flowers and 15.6 percent will buy clothing. Shoppers will compare prices online, and 26.3 percent expect to make their purchases online, which is up from 19.3 percent in 2012. Other shopping destinations include discount stores (39.6 percent), department stores (33.2 percent), specialty stores (22.9 percent), floral shops (19.6 percent), jewelry stores (11.2 percent), specialty clothing stores (7.5 percent) and catalogs (2.6 percent). The average male who has been struck by Cupid’s arrow expects to spend significantly more than the average woman this year. Men will spend an average of $175.61 on jewelry, flowers and a romantic evening out, while their counterparts will spend approximately $88.78, according to the survey. BIGinsight's consumer insight director, Pam Goodfellow, concluded, “The mantra ‘it’s the thought that counts,’ might be most applicable for holidays like Valentine’s Day, and there’s no question that this year’s budget-conscious gift givers will keep this in mind while out looking for the perfect gift. There will be no shortage of deals in the coming days, so frugal consumers will keep a keen eye out for promotions on chocolates, flowers and even dining.”
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