Marketing Currents - Business and Marketing Current Events

Consumers Plan to Increase Valentine’s Day Spending to Nearly $26 Billion

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Consumers are expected to spend $25.9 billion on Valentine’s Day this year, up from $23.9 billion in 2022 and one of the highest spending years on record, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.

Click here to read the story at nrf.com.

Discussion Questions:

  1. What is consumer behavior?
  2. Why do businesses and brands study consumer behavior?
  3. What is market research?
  4. Why do businesses and brands invest in market research?
  5. What are the different types of market research?
  6. What can they learn about consumers from that research?
  7. Who is the National Retail Federation?
  8. What does the data from NRF’s market research tell us about what to expect from consumers this Valentine’s Day?
  9. What types of businesses or brands might benefit from the NRF market research?
  10. More consumers will give gifts of experience this year than last. What does that mean?
  11. Who might find that information to be valuable?
  12. If you were a marketing professional working for your favorite brand, how would you use the information from NRF to create a Valentine’s themed promotion? Be prepared to share your ideas in class.
Chris Lindauer
After working for nearly a decade in professional sports, Chris Lindauer, formed Sports Career Consulting to provide unique sports business education opportunities in and out of the classroom. In the eighteen years (and counting) that followed, Chris has inspired thousands of students to pursue their passions and explore the career of their dreams. He currently lives in Portland, Oregon with his wife, two teenage daughters and their dog.

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