By Allie Naughton, Client Strategy Manager, Listrak
Valentine’s Day is not just for cards and candy anymore.
Last year, the headlines touted record-high Valentine’s Day consumer spending at $27.5 billion. What’s more, research has found that Valentine’s Day is especially important to Gen Z consumers, with the average Gen Z shopper anticipated to spend the highest amounts on the holiday.
With traditional gifting changing (sorry big box jewelry companies!), all retailers should be focused on what in their assortment would make a thoughtful gift or products that lean into this time of year meant for connection.
Valentine’s Day is not just for couples anymore
On Valentine’s Day, consumers want to show their appreciation for not only loved ones, but family, friends, co-workers, and more. Beyond jewelry and flowers, consumers are seeking experiences, self-gifting, and personalized products for everyone they love. With “Parks and Rec” popularizing Galentine’s Day in 2010, there has also been a rise in spending time (and money!) with your friends, the day before Valentine’s Day.
According to the National Retail Federation, one-third (32%) of consumers aimed to purchase gifts for friends last Valentine’s Day – the highest number in the survey’s history. Another 19% expected to purchase gifts for co-workers – another record high. Plus, 32% also planned to purchase gifts for their pets.
For brands, as AI automation predominates, human connection has become the true differentiator. Consumers want brands to focus on personal, high-value touchpoints – and Valentine’s Day is a perfect opportunity to make those connections happen.
Valentine’s Day drives real engagement and revenue, and offers retailers an ideal moment to inspire, delight, and connect with customers.
How to crush (on) Valentine’s Day strategy
Valentine’s Day falls on a Saturday this year, bringing more demand to market, as consumers have more time to spend on experiences & thoughtful planning.
With e-commerce serving as the most popular shopping destination on Valentine’s Day, here are key strategies for retail marketers to make the most of this increasingly popular holiday:
- Build awareness and provide inspiration: Adjust colors, tones and visuals on-site and in digital marketing to promote awareness of and inspiration around Valentine’s Day gifting. Tactics can include showcasing customizable products, launching a quiz to find the right gift and adding gifting ideas into product recommendations.
- Take a personalized approach. Valentine’s Day is emotional, making it especially imperative to connect on a human level. Appreciate your subscribers with a “thank you” Valentine’s Day message, customize communications towards customers who purchased last Valentine’s Day and tailor to those who may not celebrate by letting them opt out of holiday messaging.
- Take a wide lens on gifting options. Surprise consumers with ways to redefine how they think about Valentine’s Day gifting and to go beyond traditional gifts. Encourage gifts for everyone – partners, family, friends, and self, and bundle various unexpected items. Incentivize by offering a free gift with purchase to increase conversions and average order value.
- Keep deadlines top of mind: With most marketers starting Valentine’s messaging in late December or early January, it is important to create content that consistently anchors the consumer with the number of days until the holiday, shipping cutoffs, and thoughtful gifts if said shipping cutoff is missed.
The bottom line
As consumers show their love on Valentine’s Day through thoughtful gifting, marketers should adapt their strategies to meet the rising interest in, and spending around, this beloved holiday.
If Valentine’s Day hasn’t been a high priority in the past, now is the time to explore how you can create meaningful consumer connections in February that will last year-round.
About the Author
Allie Naughton is Client Strategy Manager at Listrak, which recently published its Valentine’s Day Playbook.
