As we can all agree, Valentine’s Day is a time to shower our loved ones with gifts from the heart. And, not so surprisingly, this love-showering holiday is also a goldmine for marketers. Last year, jewelry was the heaviest hitter at $4.8 billion, followed by going out at $3.6 billion, and flowers at $2.1 billion.

While men in relationships are the biggest gift-hunters out there, pets also get a big piece of the Valentine’s Day pie. Just last year, $703M was spent on our sweet little friends.

While many shop in-store for their Valentine’s Day purchases, 72% of young shoppers now research online beforehand. Meanwhile, 71% of shoppers believe they get better deals online than in brick and mortar stores. So, whether you operate an ecommerce or retail store, you can’t deny the importance of spreading online awareness leading up to the holiday. After all, 71% of consumers are likely to purchase an item based on social media referrals and 44% of social media savvy women make a purchase decision based on the opinions of trusted bloggers. Compared to paid ads, word-of-mouth and influencer marketing is far more contextual and less disruptive. It helps to inform purchase decisions when the customer is seeking unbiased opinions.

And don’t forget about last minute shoppers! Nearly two-thirds of Americans leave gift planning until a week or less before Valentine’s Day. The love-showering holiday is also one of the most popular days of the year to get engaged, so it’s the perfect time to reach out to those newly engaged couples.

While many couples still see the holiday as a time to be romantic, views are starting to shift. Many people now see it as a time to celebrate with their family, friends, and even their pets. This opens the floodgates for businesses of all kinds to get in on the Valentine’s Day action and reap the sweet rewards.

Read on for more interesting Valentine’s Day marketing insights in this infographic.

Infographic source: The Shelf