Valentines Day 2010
- 1. Brand Keys Valentine’s Day Index 2010: Economic Qualms Calm Cupid’s Ardor, Many to Celebrat at Home “This year the sharpness of Cupid’s arrows are going to be a bit blunted by the economic pinch. The average price consumers placed on love this year is $103.00, down about 5% from last year,” said Robert Passikoff, president of Brand Keys, Inc., a New York-based brand and customer engagement research consultancy (www.brandkeys.com). Brand Keys asked 1,200 men and 1,200 women (18-60 years of age), in its’ bi-annual Customer Loyalty Engagement Index (drawn from the 9 Census regions of the United States), what they were going to do, what they were going to buy and how they were going to celebrate Valentine’s Day this year. “Men, women, and friends still intend to exchange gifts February 14th. Ninety-three percent (93%) indicated that they are going to celebrate in some way, just at a slightly lower spending level: $133 spent by men (versus $140 in 2009), $72 (versus $75) spent by women, down about 5% over last year.” noted Passikoff. Gift-giving has skewed away from expensive presents like jewelry, and larger gift cards to smaller, less expensive, more intimate –even hand- crafted – tokens of love and devotion,” said Passikoff. The traditional tokens of love and caring, flowers, candy, jewelry, and lingerie, are all down 10 – 15%. The top-10 gifts for 2009 include: Total Men Women Cards 85% 95% 75% Dinner/Entertainment Events 58 88 28 Gift Cards 55 55 55 Flowers 45 75 15 Candy 45 45 45 Jewelry 15 25 5 Stuffed Animals/Balloons 10 10 10 Perfume/Cologne 10 10 10 Lingerie/Clothes 10 15 5 Books/CDs/DVDs 5 5 5
- 2. Gift Card Use Declining “The purchase of gift cards had nearly doubled over the past five years because consumers felt they had become a more-than-acceptable gift for a broader range of recipients,” said Passikoff. “But this is the second year in a row that gift card purchases has decreased slightly. It’s all being driven by the economy and consumer doubts about a quick recovery.” This change in purchase behavior is likely due to the fact that in this economy people intend to give fewer tangible gifts and will use spending time with their Valentines as a surrogate for the more traditional, material gift. “Valentine’s Day had become gender-neutral in terms of how men and women think when it come to how they’ll celebrate the holiday,” noted Passikoff. “Except this year, what they’re going to do has a quiet stay-at- home quality to it. ” Thirty-percent of men and women (twice the number in 2009) indicated that they intend upon staying at home! Top Four Valentine’s Day activities Total Men Women Dinner 40% 40% 40% Movie 30 30 30 Sex 25 25 25 Stay at home 30 35 25 Who’s Your Dream Date? Do you have a dream date? Everyone was asked, “next to your very own sweetheart, whom would you like to celebrate Valentine’s Day with?” Fantasies included: Women Men 1. Robert Pattinson 1. Scarlett Johansson 2 Robert Downey, Jr. 2. Kate Beckensale 3. George Clooney 3. Megan Fox 4. Hugh Jackman 4. Angelina Jolie 5. Johnny Depp 5. Jessica Alba 6. Barack Obama 6. Eva Mendes 7. Daniel Craig 7. Beyonce 8 Alex Baldwin 8. Penelope Cruz 9. Jake Gyllenhaal 9. January Jones
- 3. 10. Sean Connery 10. Courteney Cox “Love may still conquer all. It’s just that this year it’s going to be done on a budget,” said Passikoff. Robert Passikoff is founder of Brand Keys Inc. (New York), a brand and customer loyalty consultancy. He can be reached at 212-532-6028, x12, or robertp@brandkeys.com.