More Lovestruck Shoppers Going Bigger This Valentine's Day
Many couples will be scrambling to purchase last-minute flowers and gifts for their sweetheart as we head into Valentine's Day. But studies show that this year, companies are catering to a more value-conscious shopper.
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Valentine's Day gives companies a major boost in retail sales, second only to the Christmas season. This year, consumers are expected to spend six percent more than 2012.
"I think generally people are beginning to feel better about the economy, consumer confidence is beginning to creep up a little bit. Employment improving slightly," said George Cook, marketing professor at the University of Rochester.
The National Retail Federation estimates shoppers will contribute $18.6 billion into the economy by this Thursday.
More than 25 percent of shoppers will head to their computers but many still prefer their trusted local florist over convenience.
"I come here every year, my wife loves the flowers from here. I like seeing the ladies, I like talking to them, so every birthday I come here, it's pretty much a tradition," said Randy Everett, Rochester.
Fioravanti's Florist has received close to 400 orders a day.
"We have a lot more to go. We'll be here a while tonight," said Elaine Bader, owner of Fioravanti's Florist.
The arrangements range from traditional...
"Even if it's just one rose, they want the rose," Bader said.
To those with a personal twist...
"The older one's name is Lilly so we usually get some lilies, a few different kinds, we see what we can find," said Justin Murawski, Rochester.
After thirty years of marriage, many husbands have it down to a science.
She tells me what kind of flowers she wants. She tells me what she wants, I bring the vase in and they do a real good job," Everett said.
Studies show adults 25-34 years old will spend the most on Valentine's Day gifts. In this struggling economy, companies have changed its marketing techniques.
"I think people in the an economy that's still not as good as it should be but improving, I think people look at value options and people have in their mind that buying at Walmart you generally get a value kind of a deal," said
And this year many budget-conscious gift givers say when you get down to the heart of this holiday, it's still the thought that counts most.
Surveys from the National Retail Federation showed that men still spend double the amount as women at an average of $175, but women are showing that this holiday is more about the couple as a whole, spending an average of $90 on their partner.