Gift choices shift for Valentine's Day

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Gift choices shift for Valentine's Day

Monday, Feb 8, 2010
By Lucy Sanderson

Trying to avoid needing debt relief may be a focus for shoppers this Valentine's Day, as practicality seems popular according to a recent survey conducted by BIGresearch for the National Retail Federation.

About 14 percent of consumers will buy winter clothing or accessories, compared with last year's 10.2 percent. Popularity remained steady for traditional gifts, and dropped for jewelry and an evening out.

"The economy has forced consumers to rethink theirgift-giving practices," Phil Rist, BIGresearch executive vice president, said.

While Valentine's Day sales are expected to reach $14.1 billion, more of these will come from people buying for friends, co-workers and pets than in previous years. Spending on gifts for family members will remain the same.

"While some may view Valentine's Day as cliche, many people still look forward to giving significant others, friends, family and even pets something special," said NRF president and CEO Tracy Mullin.

Couples will spend an average of $63.34 on gifts for their significant
other or spouse, according to the survey. This is about $4 less than last year. The average person will spend $103 total. This compares to the $102.50 they spent last year, a $20 decrease over 2008's average.

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