Ready to fall in love with eCommerce all over again this February? IBIS world estimate Australians spent a total of $1.09 billion on Valentine’s Day in 2018, representing a massive opportunity for eCommerce businesses.
Not in the business of selling teddy bears and heart shaped treats? We have some good news for you and your business. It looks like consumer’s are going to be thinking outside the (chocolate) box for gift inspiration this Valentines Day.
Whilst the number of people celebrating Valentine’s Day might be decreasing, the amount that they’re spending, and the number of people they’re buying for, is actually on the rise. Men are expected to almost double the average female spend, splashing out $94 compared to $56.
“There’s a big increase this year in consumers spreading the love to children, parents, friends and coworkers… consumers appear to be expanding the scope of who qualifies for a card or a box of candy”, NRF President and CEO Matthew Shay said.
Unfortunately there’s still none for Gretchen Weiners.
What's causing this increased spending?
Millennials appear to be driving this spending growth. Whilst 2 in 5 consumers are spending on average $75 on their loved ones, Gen Ys are forking out the most at $87.
But this doesn’t mean that Millennials are necessarily spending more on their relationships. This study found that a quarter of those under the age of 35 are planning to buy a Valentines Day gift for their pets in 2019.
This makes sense considering 82.2% of pet owners say they love their pets just as much as they love their human family. So much so that we spent a collective $145 million on Christmas presents for our pet-children in 2018.
With just a quick Google search you can find:
- 9 Valentine’s Day Gifts For Your Pet Because That’s True Love
- 21 Valentine’s Day Gifts For Dogs And The People Who Love Them
- 13 Best Valentine’s Day Gifts To Share With Your Pet
So what does this mean for your business?
Whilst a lot of businesses focus on consumers who are purchasing Valentines Day gifts for their partners, your brand could benefit from aiming your cupid’s bow at a wider target market!
Our top tips?
- Create a self care bundle
For those 18-24 year olds who said they wouldn’t be celebrating Valentine’s Day, half still planned on participating in Valentine’s Day by treating themselves to some self care. Try bundling together products to create a self care package for your customers who’d like to treat themselves to some well deserved ‘me time’.
Alternatively you could create a content series that promotes some of your best selling products! Cosmetics brand, Jane Iredale, has done something similar with their ‘14 days of self love‘ series.
- Look after your last minute shoppers
We all love to leave gift giving to the last minute. Accomodate for these shoppers by creating an easy to find ‘Valentine’s Day Gifts’ section on your website and make it obvious to customers how long shipping is going to take. You might even offer free express shipping if your customer spends a certain amount.
You could also try offering a gift wrapping service for those who won’t have time to do it themselves. Aussie brand, The Clean Collective, offer a plastic free gift wrap service that you can add to any order.
- Be your customers’ Valentine
One of the best parts of Valentine’s Day is unexpected love. Whether it’s a surprise flower delivery for your mum, a handwritten love letter for your partner or a fresh bone for your dog – everyone loves a sweet surprise.
So why not create this experience for your customers for the month of February?
Adding a personalised note, a lolly or even a cheeky discount code for your customers can make a huge impact.
Not only could it persuade them to share the experience online (read more about getting your customers to share their unboxing experiences here), it can also help generate repeat sales and build brand loyalty.
Most importantly customers will always remember how you made them feel, and you never know who could use some extra love this holiday.
Want to read more about the latest news in eCommerce? Check out our recent blog posts.