Valentine’s Day is an important occasion for online sellers, as it can significantly impact their sales and overall business performance in the year’s first quarter. Since it is one of the top consumer spending events, it is crucial for online sellers to take steps to prepare for this celebration to achieve profitable Valentine’s Day sales.
Valentine’s Day: A Brief Background
Valentine’s Day is said to have originated from the Lupercalia celebration that takes place annually in the middle of February. The festival was then Christianized by Pope Gelasius I, who dedicated it to Saint Valentine, hence its current name.
The holiday became widely recognized and celebrated in the 18th and 19th centuries, emphasizing gift-giving as an expression of love and affection. These gifts are meant to show fondness and gratitude for the person receiving them.
Valentine’s Day Sales in Numbers
Valentine’s Day is another avenue for sellers, especially Amazon sellers, to increase their revenue in the first quarter of the year. According to the National Retail Federation, Valentine’s Day spending is expected to reach nearly $26 billion in 2023.
Consumers are expected to allocate an average of $192.80 for the occasion, a $17 increase from previous years. Historically, consumer spending for Valentine’s Day gifts has increased, averaging around $163 since 2017. Such an allotment will likely drive Valentine’s Day sales.
|Valentine’s Day Year||Total Spending per person|
Source: NRF DATA
What Gifts Do Shoppers Intend to Buy? | Valentine’s Day Gift Ideas
Being aware of popular Valentine’s Day gift items sought by consumers on eCommerce sites like Amazon can give you an edge in your Valentine’s Day sales. Additionally, having such information can guide your marketing strategies for the holiday.
Here are some of the top consumer products that shoppers plan to give as Valentine’s Day gifts in 2023.
Sweets such as candies and chocolates are the top choices of consumers as Valentine’s Day gifts this coming February 14th. According to NRF, 57% of consumers plan to give sweets to their special someone this Valentine’s Day.
Another Valentine’s Day gift shoppers intend to purchase this Valentine’s Day 2023 is Valentine’s Day cards. It is estimated that 40% of shoppers will buy greeting cards for Valentine’s Day.
A popular gift option on almost every occasion is flowers. And for Valentine’s Day 2023, around 37% of shoppers intend to buy flowers as Valentine’s Day gifts. Some of the most popular Valentine’s Day flowers include Lilies, Sunflowers, Roses, and Tulips.
Jewelry has long been a popular choice for expressing love and affection to a partner. This Valentine’s Day 2023, it is estimated that 21% of consumers plan to give a piece of jewelry as a gift to their loved ones. Popular options among consumers include necklaces, bracelets, and earrings.
Clothing is a popular choice among consumers as a Valentine’s Day gift. It is estimated that about 19% of people will give clothing gifts this Valentine’s Day. Popular options for clothing gifts include robes, underwear, and jackets.
Valentine’s Day Marketing Strategies to Win Shoppers’ Hearts
If you wish to improve your sales performance in the first quarter of the year, you should take the necessary steps to improve your Valentine’s Day sales. Here are some Valentine’s Day marketing ideas you can implement to give you a headstart for your eCommerce business.
Valentine’s Day Interactive Social Media Post
One of the best ways to capture shoppers’ attention this Valentine’s Day is to create engaging social media posts. Try to create interactive social media posts that will entice your audience to participate.
Asking people on social media what Valentine’s Day gift they wish to receive is a good marketing strategy. A simple survey question or contest will give your followers a reason to interact with your post. Thus, keeping social media engagement at the forefront of your marketing campaign.
Valentine’s Day Gift List
Providing Valentine’s Day 2023 gift ideas on your online store or social media can benefit last-minute shoppers. Giving shoppers thoughts on what to buy for this Valentine’s Day 2023 is a good marketing strategy, especially if such a Valentine’s Day gift list is centered around your products.
This Valentine’s Day marketing idea will improve your Valentine’s Day sales performance and your inventory movement, allowing you to highlight slow-moving products.
Valentine’s Day Product Bundles
Another marketing idea that can help increase your sales and improve inventory movement is product bundling. This tested and proven strategy works for online retailers, including Amazon sellers.
By grouping your inventory items together, you can make Valentine’s Day shoppers buy more than one product during a single purchase. Thus, increasing your average order value. For example, you can bundle chocolates with flowers and jewelry with greeting cards.
Such a marketing strategy is so effective that Amazon has even incorporated it on its own platform, as observed in its “frequently bought together” or “buy it with” section.
Valentine’s Day Video Marketing
Around 96% of marketers view video as an essential part of their marketing strategy. Video marketing will not only improve brand awareness but also give shoppers a better understanding of your product.
Nowadays, online sellers no longer have to produce their own marketing videos, as there are now online services that cater to this requirement. The lack of time and expertise are no longer valid excuses for not creating a marketing video for your brand.
If you wish to increase your Valentine’s Day sales, you should consider using video for product marketing.
Valentine’s Day Direct Marketing Tactics
Another Valentine’s Day marketing method you should consider for this Valentine’s Day 2023 is direct marketing. Direct marketing approaches such as SMS and email marketing enable you to promote your products directly to consumers.
Additionally, direct marketing, once done correctly, enables you to target potential buyers efficiently and offer a more personalized message. It is also generally considered to be low cost while providing high ROI.
Offer Competitive Prices for Valentine’s Day Shoppers
Pricing defines the value that a product is worth, and the price is adjusted to a particular value suitable to both seller and customer. The price you associate with your product or brand can likewise serve as a marketing tool to help improve your Valentine’s Day sales.
To have an effective Valentine’s Day marketing campaign, you should also consider product pricing. No matter how great your marketing strategies are, if the price is not competitive, potential customers may lose interest in your product or brand.
In order to offer competitive prices for your eCommerce store, you need to research your competitors and understand their pricing behavior. However, not everyone has the resources to do so.
To overcome this challenge, online sellers use repricing software to keep pace with changes in demand for price adjustments. Specifically, high-volume Amazon sellers employ AI-powered Amazon repricers to adjust their listing prices to a more competitive level.
Maximize Marketing Strategies for Optimal Results
Valentine’s Day marketing strategies should not be used separately but rather in combination to enhance the chances of a successful campaign. Combining different approaches can improve your Valentine’s Day sales performance.
Moreover, it is crucial to consider past data in any marketing strategy, as it provides insight into what was effective and what was not. It can help you identify mistakes and guide you towards successful marketing tactics, leading to a better outcome in your current Valentine’s Day marketing efforts.