Happy Valentine’s Day!
ALL YOU NEED IS LOVE
Valentine’s Day is a time when people demonstrate their love and friendship, and is celebrated widely across the globe, at least we are all reminded by numerous marketing campaigns to celebrate it. This celebration of love has a price of its own by millions of people rushing to purchase romantic trips, unique gifts or night outs every year. In 2013 about £1 billion was spent on Valentine’s gifts – £622 million by men and £354 million by women – making it one of the most ‘expensive’ celebrations throughout the year.
Except some retail industries, there are significant upward trends during Valentine’s day for such products as perfume, lingerie and flowers, entertainment and unique experiences. European mini breaks, and day trips to less traditional cities of Britain are among other popular alternatives. Additionally, due to clever moves of some retailers, particularly supermarkets, who offer meal deals and promotions on wines or campaigns, romantic night-ins are becoming more and more popular each year.
On another interesting note, over 9 million pet owners have bought gifts for their pets in 2012 according to the U.S National Retail Federation survey, spending an average of $5.04 on them, which leads us to conclude that if the marketing campaigns are developed smartly, any business can benefit from capitalising on Valentine’s day.
The question is, is your business ready to promote LOVE this year?