With Valentine’s Day right around the corner, it’s no surprise that businesses are launching their best strategic marketing campaigns targeted at capturing both the hearts and wallets of shoppers. Whether it is brands selling sweet treats or companies providing customers with the latest technology devices, consumer spending surrounding this popular wintertime holiday is tremendous. Competition is steep when it comes to buying gifts for loved ones, and most retailers and organizations are putting forward their best efforts to make sure they win big this coming Valentine’s Day, regardless of industry.

In order to garner major results from Valentine’s Day, it’s important for companies to understand the buying behavior of those celebrating this special day with their significant other. Without a thorough grasp on consumer spending trends, any marketing approach lacks the ability to be tailored to each specific audience. To help brands understand more about purchasing behavior surrounding this holiday, the infographic below showcases some of the most important statistics to keep in mind while developing a strategic and tactical approach for your Valentine’s Day marketing campaigns.

Infographic

Key Findings:

Online vs. Offline

Nearly 25% of those celebrating Valentine’s Day shop online as opposed to offline. While physical storefronts are still sparking the interest of a lot of shoppers, the digital experience must be optimized to provide users with what they need when it comes time to make their purchases. If the online user-experience isn’t a positive one, you not only run the risk of losing the customer to a competitor’s online store, but you could lose them to a competitor’s brick-and-mortar store too. Whether it’s focusing on content marketing, or creating unique PPC campaigns, online initiatives are crucial for businesses trying to garner a strong ROI during the Valentine’s season.

Comparing Holiday Spending

When you look at Valentine’s Day in comparison to some other holidays consumer spending is strong, with an average of $18.9 billion spent in US retail stores. Mother’s Day typically garners $21.2 billion in consumer spending, and Easter is just below Valentine’s Day with about $16.4 billion spent in the US.

On an individual shopping level, it was found that roughly $142.31 is spent per Valentine’s Day participant. Keeping this price point in mind as much as you can is quite tactical when you’re identifying which products or services you are going to do the heaviest promotional pushes for throughout February.

Gifting

When it comes time to shop, it’s no surprise that more than 9 in 10 Valentine’s Day participants buy a gift for their romantic partners. While this shouldn’t be a shock to most marketers, it’s interesting to look at purchase behavior when you break it down by gender. On average, men spend 2.3 times as much on their sweetheart as women do. To accommodate this type of user behavior, you’ll see a lot of businesses crafting stronger marketing campaigns focused towards men rather than woman, suggesting the best gift ideas men can get for their wives and girlfriends.

Gifts that have been most popular on the “wish lists” for Valentine’s Day tend to stay on the traditional side. 51% of celebrants want a night out with their date, 33% want chocolate, and 27% want flowers. As technology continues to play an ever-increasing role in our lives, the non-traditional gift item that 39% of Valentine’s Day participants want for this special holiday is a surprisingly expensive one – a smartphone!

Valentine’s Day Marketing Campaigns

Even though Valentine’s Day doesn’t attract the same consumer attention as holidays like Black Friday or Christmas shopping, it’s still a major retail experience for brands nationwide. With the role of digital becoming more important than previous years, it’s essential that companies optimize their online experience for consumers. Everything from creating a mobile-friendly ecommerce site, to implementing creative and effective digital advertising campaigns should be a driving point of focus as brands prepare for the weeks preceding this popular retail holiday.

Infographic Source: Blue Fountain Media