Jewelry is one of the most popular Valentine’s Day gifts for online shoppers to purchase, according to data from e-commerce analytics firm Slice Intelligence.
Analyzing sales in four categories—jewelry, chocolate, stuffed animals and flowers—Slice says jewelry accounted for 54% of web sales Feb. 1-14, 2017.
Flowers, however, dominated last-minute purchases. On Feb. 13, flowers accounted for 57% of web sales among the four categories, compared to 32% for all of February.
“Because there are so many same- or next-day delivery options for flowers, that category does uniquely well at the last minute,” says Ken Cassar, principal analyst for Slice Intelligence.
Feb. 13 is the peak spending day not just for flowers, but for all of these Valentine’s Day products in February. This procrastination, however, comes at a price, as shoppers who procrastinate become less price conscious as the holiday approaches, Cassar says.
“Odds are that buyers who waited until the last minute are going to have to pay elevated shipping and handling fees,” Cassar says. “Since they’re getting stuck with shipping and handling fees anyway, consumers seem to throw frugality to the wind, significantly upping their spend as Valentine’s Day approaches.”
Shoppers spent on average $48.86 on Feb. 13 for flowers, which is about a 27% increase compared with the average $38.53 spent Feb. 1-12. Spending on jewelry increased nearly 21% to $60.91 on Feb. 13, compared with $50.50 spent on orders placed Feb. 1-12, according to Slice. Online shoppers’ spending in these categories dropped further after Valentine’s Day, as online shoppers spent between 16.9%-21.7% less on average on these products.
- Consumers spent an average of $10.47 ordering chocolate online Feb. 1-14 compared with an average $8.20 spent on it online Feb. 15-28.
- For flowers, consumers spent an average of $39.43 Feb. 1-14 compared with $31.77 Feb. 15-28.
- For jewelry, consumers spent an average of $51.51 Feb. 1-14 compared with $42.82 Feb. 15-28.
Here is how spending on Valentine’s Day products shook out from Feb. 1-Feb. 21, 2017.
Slice analyzes U.S. online sales based on the email receipts of a panel of 5 million online consumers. It does not include app sales. Slice analyzed anything labeled as jewelry, flowers or chocolate within the e-receipts and found the average spending of each day by day for February.
For this year, 21% of U.S. consumers say they will purchase flowers online, according to a new survey of 1,008 U.S. adults in January 2018 conducted by market research firm Propeller Insights on behalf of coupon site eBates.Favorite