February 14th is upon us, which means it’s time, once again, to show our loved ones just how much we care in the form of candy and flowers. If predictions are correct, 2015 could be a huge year for Valentine’s Day, financially speaking. A recent NRF Survey indicates that total spending is likely to reach $18.9 billion, a record high.
As far a gift giving goes, Valentine presents tend to be somewhat predictable, typically chosen from a selection of staple products. But here at Resonate, we’re all about the why behind the buy, but what motivates consumers to choose one of these options over another? Why do some opt to give flowers and others for gift cards?
We dove deeper into the motivations and preferences of Valentine’s Day shoppers in effort to understand who buys what, and why. Here are some key differences between consumers who will be giving their loved ones Flowers, Gift Cards, and Candy this holiday weekend, expected to generate $2.1, $1.7, and $1.5 billion in revenue, respectively.
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