Feb. 6, 2007

The Discover® Card Second Annual Valentine’S Day Shopping Survey Finds That A Special Dinner Ranks As The #1 Gift

According to the results, men will once again outspend women on gifts. Men who plan to purchase a Valentine's Day gift indicated they intend to spend an average of $117.00 on their significant other. This is nearly 50 percent more than women, who said they plan to spend an average of $59.00 on gifts for their Valentine. According to Discover's 2006 Valentine's Day Shopping Survey, these amounts are both lower than what men and women said they intended to spend last year on a Valentine's Day gift, which was an average of $127.00 and $74.00, respectively.

“When shopping for a loved one on Valentine's Day, it's helpful to know what he or she would most like to receive,” said Margo Georgiadis, executive vice president and chief marketing officer of Discover Financial Services. “Our Valentine's Day Shopping Survey was designed to help consumers make good choices when shopping for their sweetheart, as well as to inform retailers of the various incentives shoppers are looking for to make their money go further.”

Venus and Mars Align When It Comes To Gift-Giving This Year

In terms of the hottest gift to buy this Valentine's Day, the majority of men (74 percent) said they plan on purchasing a special dinner, followed by flowers (68 percent) and candy (51 percent). Luckily for men, the largest percentage of women respondents (58 percent) said they are hoping to receive a special dinner, followed by flowers (48 percent) and then candy and jewelry, which tied for third at 33 percent.

Among women, the largest percentage of respondents (61 percent) said they also plan to purchase a special dinner on Valentine's Day, followed by music, books, DVDs or games (45 percent) and candy (42 percent). Again, men and women are seeing eye-to-eye, as the largest percentage of male respondents (54 percent) are hoping to receive a special dinner, followed by music, books, DVD's or games (40 percent) and a full night out on the town (35 percent).

Thirty-seven percent of respondents would be thrilled to receive a gift card this year for Valentine's Day. And fortunately for everyone, 81 percent of respondents said they are typically satisfied with the gifts they receive from their significant other.

Valentine's Festivities Prove to Be Less Significant

A surprising 75 percent of respondents either feel that receiving a gift is a welcome and affectionate gesture but not really necessary or don't care about receiving a gift at all. Similarly, 63 percent of men and 45 percent of women would feel just fine if their significant other didn't buy them a gift at all.

However, when asked if they would be disappointed if their partner did not buy them a gift, considerably more women (34 percent) appear to take the special day more seriously than men (18 percent).

Incentives May Influence When and Where to Shop for Valentine's Day

Stores remain the primary place consumers purchase Valentine's Day gifts, with an overwhelming 84 percent of respondents intending to buy gifts from a brick-and-mortar establishment. Only a quarter of respondents indicated they intend to do their shopping online. Additionally, more than half of the respondents said sales encourage their Valentine's Day spending. At 44 percent, women are more likely than men (38 percent) to use coupons.

In terms of how far in advance they shop for their special someone, nearly half of men (43 percent) and women (45 percent) purchase their gifts about a week before the big day. The survey also showed that more than half of the respondents plan to use either a credit or debit card to pay for their purchases.

Georgiadis continued: “Consumers can get more out of all their special purchases this Valentine's Day by taking advantage of the various incentives, offers and credit card rewards available. Discover Card's Cashback Bonus® program allows cardmembers to earn cash rewards on every single purchase and even double their rewards when they redeem for gift cards or e-certificates from an exclusive network of over 70 brand-name partners.”

About the Survey
The results of the Discover Card Valentine's Day Shopping Survey are from a telephone survey of 1,015 adult Americans, conducted January 18-21, 2007, by Opinion Research Corporation's CARAVAN omnibus. The margin of error at the 95 percent confidence level is plus or minus three percentage points for results based on the entire sample. Results based on smaller sub-samples will have a larger margin of error.

About Discover Financial Services LLC
Discover Financial Services LLC, a business unit of Morgan Stanley (NYSE: MS), operates the Discover Card with more than 50 million cardmembers, and the Discover Network with more than 4 million merchant and cash access locations. Discover Financial Services also operates the PULSE ATM/debit network, which serves over 4,200 financial institutions and includes almost 250,000 ATMs and approximately 3.4 million POS terminals. For more information, visit www.discovercard.com, www.discovernetwork.com or www.pulse-eft.com.

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Matt Towson

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