Valentine’s day is just around the corner and consumers are ready to spend. $19.6bn to be more precise. The great thing about this is that consumers don’t limit their buying to just flowers. Jewellery, lingerie, travel, experiences, gift cards, candy, perfume, even home appliances are bought as a sign of love/romance to respective partners.
Jewellery - $4.7bn
Going out - $3.7bn
Flowers - $2bn
Candy - $1.8bn
Clothing - $2bn
Greeting cards - $894M
Gift Cards - $1.5bn
Not only that but it would seem that pets are not left out. A whopping $982M is spent on gifts for pets during this time with an average price of $5.50.
Family members and friends also get a chance to feel the love. Although $12.1bn will be spent on significant others, $3.5bn will be spent on family, $991M on classmates and teachers, $982M on friends, and $654M on co-workers.
Age is definitely a factor when it comes to buying gifts for loved ones. People aged 25-34 spend more on Valentine’s gifts followed by 35-44 and then 18-24. Men across all these groups spend the most with an average of $191 on gifts in 2015. Apparently, chivalry is not dead after all.
Peak days for Valentine’s day purchases are between February 7th -14th and increase as users get closer to the day.
So, with all of these stats and experience, what can we learn about advertising to get sparkling Valentine’s day’s results?
Valentine’s day is the perfect time for people to find gifts for their loved ones. By creating smart ads, you will have the opportunity to provide relevant services and products and become a matchmaker of sorts. All of the listed tips will help you to build, thoughtful, relevant and smart campaigns.