Men are more likely than women to get a head start on Valentine's Day shopping, but have much higher expectations when it comes to how much should be spent (on them) for the holiday.
Men expect nearly $230 to be spent on them, compared to women, who expect just $196, according to a survey from Chase Card Services. Yet, women plan to spend less ($71) than men ($98) on presents this Valentine's Day.
Overall, Americans plan to spend an average of $84 on gifts this Valentine's Day. Yet, those who expect to receive a gift this year want an average of $210 spent on them. Those in a relationship expect an average of $240 to be spent on them, according to the survey.
And when it comes to gifts, most prefer chocolates over flowers and the latest technology rather than jewelry (40 percent).
The majority of shoppers also plan to shop online this year, according to a report by Adroit Digital. More than half of all survey respondents (59 percent) indicated a preference to purchase their Valentine's Day gifts online this year, including using smartphones and tablets, as opposed to in an actual retail store location.
Women and men appear to have inverse shopping intentions. Forty-seven percent of men said they would make their purchases the first week of February, compared with 27 percent of women. These figures flip the second week of February, with 25 percent of men planning to make purchases compared with 48 percent of women.
The majority of consumers in the survey, 58 percent, indicated online ads, including tablet and mobile ads, will influence their Valentine's Day purchase decision. Nearly 60 percent of survey respondents indicated that they will visit just one to three retail sites before making a purchase decision and 36 percent of shoppers in the survey said they were 50+ percent more likely to respond to a personalized ad than a generic ad.
Four retail trends for Valentine's Day
Valentine's Day: Tablets beat smartphones for mobile shopping
China's Singles Day shoppers set world record in online sales
Tiffany & Co. adds interactive tools to new e-commerce site
1-800-Flowers crashes just before Valentine's Day. How cruel can e-commerce get?