This Valentine’s Day, Millennials Give the Gift of Experience, New BIGresearch Report Uncovers
SRAX, Inc., a digital marketing and consumer data management technology company, releases a new BIGresearch study of over 53,000 unique Americans revealing this year’s Valentine’s Day consumer behaviors and opinions.
A BIGtoken study conducted in January 2020 revealed Millennials are the most active generation during Valentine’s Day. Seventy-nine percent of people celebrating this year are between the ages of 18 and 34, with 47% between 25 and 34. In addition, more Millennials responded that they plan to give their significant others a trip, a vacation, a staycation, or tickets to a concert, show, or amusement park. This points to a shift in values for younger generations where they’re now prioritizing experiences and activities over material things.
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Generally, the majority of BIGtoken respondents who do plan to celebrate Valentine’s Day said they will give their significant other a gift (4.2K respondents) and/or spend the night somewhere romantic (5.1K respondents). Surprisingly, a large number of users responded that they were planning to attend a wedding for Valentine’s Day (4.8K respondents). Men were also more likely to enjoy a grand romantic gesture (18.6%) than woman (14.9%). Also, when asked if consumers are willing to pay more to dine out on Valentine’s Day, 73% were willing to pay more, understanding that raised prices during the day occur and they are okay with that.
The study was conducted on users of BIGtoken, the first consumer-managed data marketplace where people can own and earn from their data. BIGtoken also provides an excellent platform for conducting highly accurate primary research across a fast-growing, 100% opted-in audience exceeding 16.5 million consumers.
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“Changing values and opinions in consumers greatly affect their consumption patterns, and it’s up to marketers to stay ahead of the curve,” said Kristoffer Nelson, COO of SRAX and co-founder of BIGtoken. “We are thrilled to share results from our latest BIGresearch report, highlighting Valentine’s Day, a holiday that’s seen new movements over the past couple decades, like the rise of Galentine’s Day (ladies celebrating ladies), and more people shopping and celebrating anti-valentine’s day.”
SRAX’s Valentine’s Day 2020 Report contains detailed information based on shopping surveys, with results broken out by gender, age, household income, and ethnicity. There is a special breakout for Galentine’s Day, an unofficial holiday whereby ladies celebrate ladies on February 13.
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