Taylor Crozier– Valentine’s Day Consumption

Posted: February 15, 2012 in Uncategorized

So since we had the big day yesterday, Valentine’s Day, I was interested to see how much people actually buy into this holiday… so I did some research.  For this years Valentine’s Day, the total holiday spending was expected to reach $15.7 billion.  Here is a break down I have found showing how much consumers were likely to spend in many different categories:

  • $3.5 billion on jewelry this Valentine’s Day, up from an estimated $3 billion last year;
  • $1.6 billion on clothing vs. $1.5 billion in 2010;
  • $3.4 billion on dining out vs. $3.3 billion in 2010;
  • $1.7 billion on flowers;
  • $1.5 billion on candy; and
  • $1.1 billion on greeting cards.

(These are all figures that were drawn from last years numbers and the gradual increases that were expected to be seen for this years Valentine’s Day– now I couldn’t find exact numbers yet for this year, but these numbers defiantly put it into perspective of how much people consume for a holiday that is supposed to be based on love)

Another interesting statistic I have found is about how much of a difference men spend on this holiday than women.  Men pick up the majority of the consumption slack on Valentine’s Day, with the average man spending $158.71 to the average woman’s $75.79— naturally, men spend double the amount compared to women.

With all the hype that is made up about Valentine’s Day, the heart is defiantly in the right place but I don’t believe we should all buy into this marketing scheme of a holiday.  We should all make our partners/ spouses feel special on many days throughout the year, not just February 14th.  But, it also doesn’t necessarily have to come with all the fancy Valentine’s gifts; a home cooked, candlelit meal would be a nice option, or make your own Valentine’s Day card with your own heart felt note inside, instead of buying a pre-made one from Hallmark.  But, it is sad to say, that due to commercialization and the marketing tactics based around this holiday, guys have trouble not purchasing into this holiday as many women now have high expectations for them to meet.  And, if the guys do not meet these ingrained expectations, the women may have a strong sense of disappointment or sadness.

Below is a commercial I found on the net, one of many, that shows how commercialization has addressed Valentine’s Day and targets men to get their loved ones a special gift for this holiday.

  1. Faiza Minhas says:

    The figures are rather surprising! Though I always knew that a lot of money is spent on Valentine’s day related things, but I had no idea that billions of dollars are spent on this occasion. I find that the same goes for other holidays such as Christmas, Birthdays, etc. I feel that people find it more convenient to spend a lot of money on buying gifts and having dinners at restaurants, rather than finding the time to make something creative for their loved ones. Sellers take advantage of that and provide, promote and encourage making purchases of a wide range. Thanks for sharing the statistics!

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