Cupid’s Arrow to Miss Big Spenders

(IDEX Online News) – Love may have a price, and according to the 2013 Valentine’s Day spending survey conducted by BIGinsight, that price is only marginally up on last year. Of those spending money on their beloved, 19.7 percent of are planning to buy jewelry – treating their loved ones to $4.4 billion worth of diamonds, gold and silver.

According to the National Retail Federation, men will spend an average of $175.61 on jewelry, flowers, a romantic evening out and more, while women will spend approximately $88.78. 

The average person is planning to spend $130.97 on candy, cards and gifts, compared to $126.03 in 2012. Total spending will reach $18.6 billion.

Fifty-one percent will buy candy, spending $1.6 billion in total, and another one-third (36.6 percent) will give flowers, with total spending expected to top $1.9 billion.

The survey found that more than one-quarter (26.3 percent) plan to shower their loved ones with gifts found online, up from 19.3 percent last year and the most in the survey’s 10-year history.

Other shoppers will seek out the perfect gift at discount stores (39.6 percent), department stores (33.2 percent), specialty stores (22.9 percent), florists (19.6 percent), jewelry stores (11.2 percent), specialty clothing stores (7.5 percent) and catalogs (2.6 percent).

Additionally, four in 10 (40.7 percent) of smartphone owners will use their handhelds to shop for gifts, and 46.9 percent of tablet owners will use their devices to purchase items and research gift ideas.