With the most romantic day of the year only two weeks away, have you implemented your Valentine’s retail marketing strategy?
If you haven’t included Valentine’s Day in your seasonal retail branding scheme, you may want to consider adding it in quick.
February 14 is not just a day Australians choose to spend with loved ones, it’s also a day Australians love to spend!
Figures from the 2013 Valentine’s Day index from IBISWorld show Australians spend almost $1 billion on this holiday.
The average person spent $41 on their partner in 2013, with luxury items hot on the agenda.
Popular Valentine’s Day purchases include chocolate and confectionary, flowers and romantic trips away. Additionally, jewellery sales should experience a boost in the lead up to the big day this year.
But it’s not just travel stores and confectionary-based retailers in Australia who can benefit from this romantic day.
A 2013 survey from the World Society for the Protection of Animals (WSPA) found 3.4 million Australians were planning to give their pet a gift on Valentine’s Day last year.
Puppy love encouraged consumers to spend almost $23 million on their canine companions, while cat owners handed over a modest $7.9 million.
Altogether, Australians were expected to spend $46.9 million on their pets in the lead up to February 14, 2013, which is equal to the amount spent on flowers for their partners.
With Australians keen to make the most of this romantic holiday, almost any retailer can potentially benefit from a clever and unique Valentine’s Day promotion.
Consider innovative ways to convince consumers your store is the ideal place to spend on gifts and supplies for the big day.
Whether they are planning to spend on a spouse, partner, pet or someone they secretly admire, Australians are interested in Valentine’s Day retail opportunities.
To make the most of this impending holiday, contact a retail specialist to help review your branding and marketing strategy.