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The Discover® Card Second Annual Valentine’S Day Shopping Survey Finds That A Special Dinner Ranks As The #1 Gift
February 6, 2007, Riverwoods, IL – According to the Discover® Card second annual Valentine’s Day Shopping Survey, which highlights consumer shopping trends and intentions for the upcoming holiday, expectations have changed for this traditionally “sweets-and-treats” filled day.
February 06, 2007
According to the results, men will once again
outspend women on gifts. Men who plan to purchase
a Valentine’s Day gift indicated they intend to
spend an average of $117.00 on their significant
other. This is nearly 50 percent more than women,
who said they plan to spend an average of $59.00
on gifts for their Valentine. According to Discover’s
2006 Valentine’s Day Shopping Survey, these amounts
are both lower than what men and women said they
intended to spend last year on a Valentine’s Day
gift, which was an average of $127.00 and $74.00,
respectively.
“When shopping for a loved
one on Valentine’s Day, it’s helpful to know what
he or she would most like to receive,” said Margo
Georgiadis, executive vice president and chief
marketing officer of Discover Financial Services.
“Our Valentine’s Day Shopping Survey was designed
to help consumers make good choices when shopping
for their sweetheart, as well as to inform retailers
of the various incentives shoppers are looking
for to make their money go further.”
Venus
and Mars Align When It Comes To Gift-Giving This
Year
In terms of the hottest
gift to buy this Valentine’s Day, the majority
of men (74 percent) said they plan on purchasing
a special dinner, followed by flowers (68 percent)
and candy (51 percent). Luckily for men, the
largest percentage of women respondents (58 percent)
said they are hoping to receive a special dinner,
followed by flowers (48 percent) and then candy
and jewelry, which tied for third at 33 percent.
Among women, the largest percentage of
respondents (61 percent) said they also plan to
purchase a special dinner on Valentine’s Day,
followed by music, books, DVDs or games (45 percent)
and candy (42 percent). Again, men and women
are seeing eye-to-eye, as the largest percentage
of male respondents (54 percent) are hoping to
receive a special dinner, followed by music, books,
DVD’s or games (40 percent) and a full night out
on the town (35 percent).
Thirty-seven
percent of respondents would be thrilled to receive
a gift card this year for Valentine’s Day. And
fortunately for everyone, 81 percent of respondents
said they are typically satisfied with the gifts
they receive from their significant other.
Valentine’s Festivities Prove to Be
Less Significant
A surprising
75 percent of respondents either feel that receiving
a gift is a welcome and affectionate gesture but
not really necessary or don’t care about receiving
a gift at all. Similarly, 63 percent of men and
45 percent of women would feel just fine if their
significant other didn’t buy them a gift at all.
However, when asked if they would be
disappointed if their partner did not buy them
a gift, considerably more women (34 percent) appear
to take the special day more seriously than men
(18 percent).
Incentives May
Influence When and Where to Shop for Valentine’s
Day
Stores remain the primary
place consumers purchase Valentine’s Day gifts,
with an overwhelming 84 percent of respondents
intending to buy gifts from a brick-and-mortar
establishment. Only a quarter of respondents
indicated they intend to do their shopping online.
Additionally, more than half of the respondents
said sales encourage their Valentine’s Day spending.
At 44 percent, women are more likely than men
(38 percent) to use coupons.
In terms
of how far in advance they shop for their special
someone, nearly half of men (43 percent) and women
(45 percent) purchase their gifts about a week
before the big day. The survey also showed that
more than half of the respondents plan to use
either a credit or debit card to pay for their
purchases.
Georgiadis continued: “Consumers
can get more out of all their special purchases
this Valentine’s Day by taking advantage of the
various incentives, offers and credit card rewards
available. Discover Card’s Cashback Bonus®
program allows cardmembers to earn cash rewards
on every single purchase and even double their
rewards when they redeem for gift cards or e-certificates
from an exclusive network of over 70 brand-name
partners.”
About the Survey
The results of the Discover Card Valentine’s
Day Shopping Survey are from a telephone survey
of 1,015 adult Americans, conducted January 18-21,
2007, by Opinion Research Corporation’s CARAVAN
omnibus. The margin of error at the 95 percent
confidence level is plus or minus three percentage
points for results based on the entire sample.
Results based on smaller sub-samples will have
a larger margin of error.
About
Discover Financial Services LLC
Discover
Financial Services LLC, a business unit of Morgan
Stanley (NYSE: MS), operates the Discover Card
with more than 50 million cardmembers, and the
Discover Network with more than 4 million merchant
and cash access locations. Discover Financial
Services also operates the PULSE ATM/debit network,
which serves over 4,200 financial institutions
and includes almost 250,000 ATMs and approximately
3.4 million POS terminals. For more information,
visit www.discovercard.com,
www.discovernetwork.com
or www.pulse-eft.com.
Media Contact
Matt
Towson
224-405-5649
matthewtowson@discoverfinancial.com
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