By: Carla Eboli, CMO, @ceboli
Chubby cupids are flying around and pink hearts are beating faster. And while millions of men and women in the U.S. celebrate Valentine’s Day (Día de San Valentín) by smelling red roses, retailers will be celebrating the smell of greenbacks. According to the National Retail Federation’s Valentine’s Day Consumer Spending Survey, the average person celebrating the occasion will spend $142.31 this year, up from $133.91 last year.
And a big part of all Valentine’s spending, from chocolates to flowers and jewelry (no necklaces, please), will come from U.S. Hispanic consumers. Historically, according to Mintel data, “U.S. Hispanics out-gifted all other ethnic groups on Valentine’s Day.” The report says that 33% of U.S. Hispanics bought a Valentine’s Day gift for someone else in past year, versus 27% of non-Hispanics.
There are many facts to support this data, according to Dieste’s planning team.
In most Latin American countries, Valentine’s Day celebration goes beyond lovers and includes family, extended family and friends – a tradition that U.S. Hispanics try to perpetuate. Besides, U.S. Hispanics overall exceed other ethnic groups in their levels of holiday participation due to their enrooted traditions.
Check out Mintel data:
Bought gifts, by race/Hispanic origin and holiday
Mother’s Day: USH 43% vs. Non-USH 30%
Father’s Day: USH 41% vs. Non-USH 21%
Easter: USH 19% vs. Non-USH 17%
And because you’re probably still humming the tune in your head, here’s the link to J.Lo’s 2001 throwback jam.