Hey, Big Spender! Happy Valentine’s Day!
Valentine’s Day accounts for more retail spending than some other established big retail spending days, such as Easter, the Super Bowl, Father’s Day and St. Patrick’s Day. With more than $18.9 billion in retail spending last year, Valentine’s Day is no joke for offline and online retailers alike who use the holiday as a jumping-off point for big profits in the new year.
Using eMarketer research, we at Blue Fountain Media created an infographic about the special day. "A Retailer's Ultimate Love Story" delves into the day's spending patterns.
The average amount that each individual spends on Valentine’s Day is surprisingly high, at $142.31 per celebrant. While this doesn’t necessarily mean that consumers would be willing to spend their entire budgets on a single product or service, this might still come as a surprise to some retailers who assume that their goods were too expensive for the standard Valentine's Day shopper to warrant a standalone marketing campaign during the holiday.
Part of making sure Valentine’s Day generates sales is making sure that marketing efforts are set up efficiently ahead of time. With 25 percent of Valentine’s Day celebrants buying products or services online, businesses need to focus on everything from PPC campaigns to email campaigns, PR initiatives to on-site optimization, in order to get the most out of Valentine’s Day marketing efforts.
Related story: 5 E-commerce Tips Make Marketing Like Online Dating