Transaction Trends

Love is in the air. Or is it data?

ETA members Mastercard and First Data this week released the latest in Valentine’s Day spending data as American consumers prepare for the country’s preeminent romantic holiday.

According to Mastercard’s 2018 Love Index, an analysis of credit, debit and prepaid card transactions during the Valentine’s Day period over the last three years, Valentine’s week sees a 17 percent increase in travel transactions and hotel stays. Experiences rule the day, Mastercard’s data suggests, with 69 percent share of spending on dining out and 21 percent spent on air and train travel.

First Data’s SpendTrend Valentine’s Day Report, an analysis of card-based forms of payments, found that less than 10 percent of Valentine’s Day spending is on flowers – the majority of spending comes from jewelry stores and other luxury items. And not all major American metropolitan centers spend equally, First Data’s report suggest. Where LA, New York and San Francisco spend the most on luxury brands, Philadelphia romancers take a different approach: alcohol tops Valentine’s Day retail categories for the city of brotherly love.

Procrastination apparently isn’t a common strategy for Americans either, the Mastercard Love Index finds, with the majority of gift purchases happening on February 11^th. The day itself, First Data’s numbers show, is a different story, with florists peaking at 11:00 am, card stores peaking over the lunch hour, jewelry stores peaking at 2:00 pm and beer, wine and liquor stores peaking at 5:00 pm.

Despite the holiday’s long-standing history, the data also suggests that Valentine’s Day is a driver for next-gen payments. According to Mastercard, Valentine’s Day spending sees a 30 percent increase in the number of e-commerce transactions and a 166 percent increase in the value of contactless transactions.

Click here to see the First Data SpendTrend infographic on Valentine’s Day spending, and click here to see Mastercard’s 2018 Love Index infographic.