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

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

 Hearts Are Aflutter for Bouquets, Chocolates and a Romantic Evening at Home

Business Wire

RIVERWOODS, Ill. -- February 7, 2013

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.

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Contact:

Discover
Katie Henry, 224-405-4437
kathrynhenry@discover.com
or
Discover
Alyssa Siegele, 224-405-4113
alyssasiegele@discover.com