The Week in Retail: 38 Surprising Valentine’s Day Stats

//The Week in Retail: 38 Surprising Valentine’s Day Stats

Valentine’s Day is a day away and consumer spending is expected to be a record high boosted by increased digital sales. Here are 38 key stats and facts you need to know about how consumers are spending on the most romantic day of the year. (Momentology)

Some spending prdictions may surprise you. This year spending will be up by 6.3% according to research from the National Retail Federation (NRF). The average person will spend about $142.31 on gifts. Around 25% of people plan to buy gifts online. Millennials will outspend older shoppers. Generation Z, consumers born from 1995 on, will value handmade, personalized gifts and unique merchandise that offers an opportunity for self-expression. (Forbes)

The KPMG sponsored Georgetown Institute for Consumer Research 2015 Valentine’s Day Consumer Intent Survey was conducted to better understand consumers’ shopping plans and purchase intentions around Valentine’s Day. A few key findings emerged. Men plan to spend almost twice as much as women on their significant others. Discovering that their significant other had spent more than them would lead them to feel unhappy, dissatisfied and embarrassed. (GICR Valentine’s Day Customer Intent Survey)

You can’t be omni-channel without also being customer-centric is the number one lesson to take away from Part One of a three part series on The History of Omni-Channel from RSR Research managing partner Nikki Baird. In Part Two of her series, Baird says 2007-08 was a tipping point for the retail industry in terms of how it viewed eCommerce. Stay tuned for Part Three. (RetailSystemsResearch)

Forrester’s Kate Legget has a great blog on CRM market trends, technologies and best practices. Kate is VP and Principal Analyst at Forrester Research for CRM and Customer Service. Successful CRM is not only about features and functions or internal efficiencies. It’s about better serving and supporting customers during their engagement journey. In Forrester’s Top CRM Trends for 2015, Kate offers a snapshot of 4 of the top 10 CRM trends that you should pay attention to in 2015. (Forrester)

2015-02-13T12:18:02+00:00 February 13th, 2015|Articles|