Discover Valentine’s Day Survey Shows Time Together Trumps Spending Sprees

RIVERWOODS, Ill.--(BUSINESS WIRE)--Money can’t buy love this Valentine’s Day as the 2013 Discover Valentine’s Day survey finds that the majority of couples prefer spending quality time together over receiving an expensive or elaborate gift.

Celebrants of Valentine’s Day, one of the most widely recognized holidays around the world, also indicated they most enjoy receiving traditional gifts such as flowers, gourmet chocolates and casual dinner dates from their partners.

Money Doesn’t Buy Love

When it comes to spending, more than half of respondents won’t be shelling out for a costly vacation getaway or dinner date this Valentine’s Day. Twenty-eight percent of both men and women are planning to spend nothing, nada, zilch, followed by:

$1 to $25, 45 percent
$26 to $50, 17 percent
$51 to $100, 8 percent
$101 to $200, 2 percent
$200 or more, 1 percent

More than half of respondents, 53 percent, said they plan to spend about the same as they did last year, while 7 percent plan to spend more and 25 percent plan to spend less.

For many shoppers, the urge to save is stronger than the urge to spark romance with a pricey gift. When asked to choose which factors will most influence their spending plans, results came out in the following order:

Want to save more
Less money this year than last year to spend
Concern over the economy
Recent holiday spending
Concern over job security

The majority of shoppers share the belief that the amount they spend does not necessarily represent their affection, as 83 percent say they do not change their Valentine’s Day spending to demonstrate their feelings.

Chocolates and Flowers Heat Up the Romance

Traditional Valentine’s Day gifts such as chocolates, flowers, and special dinners still strike the fancies of most. When asked to choose which gifts they wanted most this year, results came out as follows:

Candy or chocolates/flowers
A special dinner
Music, books, movies or electronics
Jewelry
A night out on the town at a club, show or event
Travel or a weekend getaway
Clothing or lingerie

If their significant other’s spending was capped at $50, 39 percent of respondents would want dinner at a casual restaurant, 34 percent would want a quiet night at home with their partner, and 15 percent would want a creative, personalized gift.

In order to find that perfect gift, 49 percent of shoppers plan to shop only in stores and 43 percent plan to combine their efforts between shopping in stores and online. Only 8 percent plan to shop online only. Tablets and smartphones are getting no love this year, as no one surveyed plans to use them for Valentine’s shopping.

No Need for Cupid’s Arrow

Not all respondents plan to spend the day with a significant other. Of those choosing to spend the holiday in other ways, 46 percent are most likely to spend the day with family, followed by spending the day:

Alone with “me” time, 31 percent
With my pet, 12 percent
A night in with friends, 6 percent
A night out with friends, 5 percent

About the Discover 2013 Valentine’s Day Shopping Survey

The Discover 2013 Valentine’s Day Shopping Survey was conducted online with 1,000 adult U.S. general population respondents. The survey was conducted by Penn Schoen Berland from Jan. 16 to 21, 2013.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, online savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.