We heart Valentine’s day and spent the weeks leading up to the holiday tracking consumer spend and behavior.
To collect the data, we leveraged our Shopalong® shopper panel armed with smartphones and Purchased’s five-star rated mobile app (iOS/Android). We tracked our Shopalong participants in real-time over two weeks, capturing their receipt data and in-the-moment experiences.
“We were excited about tracking purchases and other shopping behavior around Valentine’s Day. It represented a substantial opportunity for retailers and brands to understand what stores people visit, the order in which they visit stores and make their purchases, how much they plan to spend and what they actually end up spending” said Dr. Walter Carl, founder and Chief Research Officer at Purchased.
Especially interesting was the difference in behavior between men and women:
- Men led cyber-shopping for the holiday, while women tended to shop in-store only or be multi-channel shoppers.
- Women did more of their shopping earlier, while men bought gifts closer to the holiday.
And the difference between what shoppers planned to spend, and what they actually did:
- Only 27% of shoppers accurately predicted their actual spend.
- On average, shoppers spent 18% more than predicted.
- Shoppers under-estimated how much they would actually spend on evening out activities and electronic items.
To receive a copy of the Valentine’s Day 2014 white paper, please fill-in the form below.