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.
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.
“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. SRAX is a digital marketing and consumer data management technology company.