Yesterday, in this space, I wrote of my surprise that retailers don’t seem to work hard at getting their piece of the $17.02 billion people will spend on Valentine’s Day this year. Perhaps I spoke too soon.
I also wrote yesterday that most Valentine’s Day spending occurs at the last minute, and therein lies the error of my earlier thinking. Retailers know three things about Valentine’s Day: (1) Some people will spend quite a lot; (2) These big spenders probably are men; and (3) Men are last-minute shoppers.
Which may be why, in this morning’s Neiman Marcus e-message, the featured item is David Yurman’s very pricey heart-shaped jewelry.
Valentine’s Day is one week from today. It’s still early for last-minute shoppers to start spending, but the timing is just right to start them thinking about Valentine’s Day.
Click on the David Yurman teaser featured on the Neiman Marcus e-message and be transported to a page of exquisite jewelry: a garnet ring for $1,350 and various heart-shaped pieces ranging in price from $250 to nearly $4,000.
Granted, these prices are way outside the parameters of the average $163.37 men will spend on Valentine’s Day this year, according to the National Retail Federation, but the e-message from Neiman Marcus tells me that retailers across the spectrum understand their customers better than I thought they did.