Valentine's Day spending trend seen

A predicted decrease in the number of shoppers celebrating Valentine's Day makes it hard for retailers to increase sales for the holiday. But some consumers are spending more this month, so sales may actually increase for February, experts say.

"Our sales are lagging behind about 4 percent for the month of February," Fred Sierzega, owner of Suzie's Hallmark in Homewood, said early this week. "But we hope to pick up sales within the next few days if there's no snowfall."

Valentine's Day is the third largest spending season in America, according to the National Retail Federation, after Christmas and back-to-school.

In a recent survey by the federation, 61.3 percent of people interviewed said they would celebrate Valentine's Day this year, which is a decline of 2 percentage points from last year's 63.4 percent. Nevertheless, the federation estimates total spending for Valentine's Day this year to inch up to $17.02 billion, a 0.7 percent increase from last year's $16.9 billion.

"There has been a significant increase in terms of dollars but not necessarily in terms of sales volume for Valentine's Day this year," said Michael Miller, owner of M.J. Miller & Co., a Barrington jewelry store, about February sales. "Fewer people are buying, but those who are buying are opting for large and expensive jewelry. This has been a trend shift since last year."

The average amount spent by each buyer for Valentine's Day is expected to be $123, an increase of $3 from last year's $120, according to the National Retail Federation. An average person is expected to spend $80 on a spouse or significant other, $24 on family members, $6 on friends and $4 on children, according to the federation.

Leading chain retailers like Sears Holdings Corp. and Target Corp. have introduced special offers for Valentine's Day to make most of the consumer spending trends this season.

Sears launched a Valentine's Day wish book, a Web catalog of gifts and offers.

Target has stocked its stores and Web site with new merchandise for Valentine's Day but is planning conservatively considering the economic slowdown, said John Hulbert, group manager of investor relations at Target.

At Woodfield Shopping Center in Schaumburg, the hottest selling items for Valentine's Day are organic products.

"More and more consumers are opting for back-to-nature items, like cosmetics, body lotions and even eco-friendly watches and jewelry," observed Marc Strich, general manger of the Woodfield Shopping Center.

Not everyone is affected.

Rose Lemmon, an employee of Rosemarie's Closet, an Arlington Heights apparel shop, said discount offers at the store are not specifically for Valentine's Day but because of the change in seasonal couture from winter to spring.