Men will spend twice as much as women on Valentine’s Day gifts this year. What does that say about them?
February has two of the biggest spending holidays of the year: The Super Bowl and the Super Bowl of Love, Valentine’s Day.
- The average American will spend $116 on traditional Valentines Day merchandise this year.
- That’s an 11% increase over last year, according to the National Retail Federation’s (NRF) 2011 Consumer Intentions and Actions Survey.
- Total spending is predicted to reach $15.7 billion, up from $14.1 billion last year.
But the real story of this holiday is the difference in spending between men and women.
- The average man will spend $159 (up 17% from last year) compared to $69 for the average woman.
- Men will buy more flowers (70% of them go to men) and the majority of the $3.5 billion spent on jewelry.
- Women will buy more greeting cards (70%) than men.
- Together, Americans will spend the most on jewelry ($3.5 billion), dining out ($3.4 billion), flowers ($1.7 billion), clothing ($1.6 billion), candy ($1.5 billion) and greeting cards ($1.1 billion).
What would make a man spend twice as much on gifts as a woman?
- I know what you’re thinking. And yes, that is a factor.
- According to condom manufacturer Durex, prophylactic sales are 25% higher than usual on Valentine’s Day.
- In the month following Valentine’s Day, sales of in-home pregnancy tests also reach their peak.
Could it be that men are more romantic than women?
According to Leil Lowndes, author of the book How to make Anyone Fall in Love with You, a number of university studies support this theory.
- Men fall in love faster than women
- Men are more idealistic about love
- After a split, men felt lonelier, more depressed, unloved and less free.
- Men love their wives more in comparison to their friends than women love men.
What do you think? Are men more romantic than women?
What’s your personal and professional experience? What motivates men to spend more on Valentine’s Day? How can 5 to 9 brands like yours capitalize on these motivations? Best answer wins a box of chocolates.