Following the success of the online Holiday shopping season, Valentine’s Day is the next big shopping occasion. Consumers are looking to online retailers for unique gift ideas, over and above the typical chocolates and flowers.
Q1 2011 Online Spending:
Over the next 90 days, consumer online spending is projected to be 10% over last year.
Consumers will spend on average, $259 online in Q1 2011, a 10% increase over Q1 2010.
Valentine’s Day Trends:
Cupid is spending.
- 32% will shop online for a gift this Valentine’s Day; compared to 23% in 2010
- 19% of respondents will spend more on Valentine’s Day gifts this year; compared to 12% in 2010
Cupid’s on a diet and is trying something new.
- 60% of consumers are looking for something other than chocolates or flowers as a gift this Valentine’s; compared to 57% in 2010
- 18% will buy a gift card as a Valentine’s Day gift this year
Cupid is shifting to cash.
- 34% of respondents reduced their online credit card usage over the last 90 days, in favor of non-credit payment options
- 28% are closer to their maximum credit limit now, than a year ago; an increase from 27% in Q1 2010
- And while 39% of respondents may consider delaying purchases due to uncertainty in the economy, this is a decrease from 46% in Q1 2010
In 2011 consumers will continue to reduce credit card usage and move to cash payments, both online and offline. Online shoppers are seeking out secure cash payment solutions, such as eBillme, as a means to pay cash, reduce credit card debt, and avoid interest fees.
For additional data, quotes, and media opportunities, please contact eBillme.