Valentine’s Day 2012: Do Macy’s Shoppers Have the Biggest Hearts?
While it looks like consumers in general are feeling the love this Valentine’s Day, new analysis by BIGinsight shows that the hearts seem to grow fondest among Macy’s shoppers. For this exclusive report, we analyzed the Valentine’s Day plans among shoppers at five major U.S. retailers: JC Penney, Kohl’s, Macy’s, Target, and Walmart (non-grocery).*
While about three in five consumers (59.4%) overall are planning to celebrate February 14 this year, this number rises among Macy’s shoppers (68.2%). Hearts are also beating a little faster among Target (64.3%) and JC Penney (63.4%) buyers, while Kohl’s and Walmart are closer to the national average.
What really sets Macy’s celebrants apart from the rest is the amount they plan to spend on the ones they love. While the average consumer is allocating $126.03 towards gifts for significant others, children, friends, pets, and others, Macy’s shoppers are allotting about 30% more: $164.67. Every other shopper group we looked at for this report is planning to spend below average:
So why are Macy’s shoppers’ spending plans so robust compared to the rest of the retailers we reviewed? We found a few interesting insights here:
– Macy’s shoppers simply have more available to spend. The average yearly income of Macy’s shoppers exceeds the take home pay of the other shopper groups we looked at for this report.
– Macy’s shoppers are wooing and less likely “I doing.” Macy’s (and Target) shoppers were the groups most likely to check the “Single, never married” box in the marital status portion of our survey, while JC Penney and Kohl’s shoppers were the most probable to be hitched. Come to think of it, I did receive more flowers, candy, and – most importantly – jewelry before I was married…
– Sale shopping is less important to the Macy’s customers. In January, nearly one in five Macy’s shoppers reported that sales aren’t important to them when buying clothing, compared to just 9% of Kohl’s shoppers. BTW, Kohl’s customers are the most likely of these five groups to only buy clothing when on sale, probably accounting for at least part of why these deal-oriented shoppers have the most frugal Valentine’s Day budget. (Kohl’s Cash, anyone?)
– Macy’s shoppers are more optimistic on matters of the economy. Nearly two in five (37.3%) Macy’s customers were very confident or confident in chances for a strong economy in January, 20%+ higher than general population (30.4%). Confidence among Kohl’s, JC Penney, and Walmart shoppers indexed below average, and as we all [should] know, low confidence does not spur spending.
For more information on this data, please contact BIGinsight™.
And, click to view the original National Retail Federation press release: Americans to Pull Out All the Stops This Valentine’s Day.
* “Shoppers” are defined as respondents who indicated that they shopped a retailer most often for at least one major merchandise category (including Women’s, Men’s, or Children’s Apparel, Shoes, Electronics, Heath & Beauty Care, etc.), unless otherwise noted. Shopper groups analyzed in this report are not mutually exclusive.
Source: BIGinsight™ Monthly Consumer Survey – JAN-12 (N = 9317, 1/4 – 1/11/12)
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