VALENTINE'S DAY 2023: BUYING TRENDS AND BEST MARKETING PRACTICES
Valentine's Day is one of the most important commercial events in the world. The gifts we give each other are more and more varied. The customs also vary greatly depending on the country. But wherever you are, Valentine's Day remains a unique opportunity to boost sales for large and small companies. As long as the right multi-channel and multi-local communication strategy are adopted.
A holiday celebrated all over the world
This year, Valentine's Day will again be celebrated all over the world, even if its success varies from country to country. According to a Groupon study, 47% of Americans say they want to celebrate Valentine's Day in 2023, compared to 38% of Spaniards, 35% of French, 32% of English and Italians and only 18% of Germans. Note that overall, young couples seem to be more interested than older ones.
A holiday of consumption
Obviously, Valentine's Day is an opportunity to combine “I love you” with revenue. 80% of Americans declare that they want to spend for this occasion, and many Europeans do as well (between 63% and 74%). All over the world, men traditionally spend more than women: for example, Italian men plan to spend about 125€, Italian women 86€.
Buying gifts in advance
Most consumers in the different countries surveyed plan to make their purchases 1 to 3 weeks in advance. The most forward-thinking are the Germans and the Americans. French people are more likely than others to wait until the actual day of the holiday. France is also the country where Valentine's Day is mostly reserved for couples. Elsewhere in the world, Valentine's Day is often spent with the family: 19% of Americans plan to spend Valentine's Day with their children.
Gift ideas vary by country
Invitation to a restaurant is the most popular gift worldwide, around 23% in most countries, only 17% in France where, as in Italy, people willingly choose to cook for themselves at home. Greeting cards are a tradition in the USA and UK (bought by 39% of people) much more than elsewhere. For the rest, flowers and clothes are the most frequent gifts everywhere, even if, in the post-covid period, people are increasingly looking to "offer an experience" to their loved one.
Advertising strategy: targeted, personalized and multi-channel messages
In a context where consumers are flooded with promotional messages dedicated to Valentine's Day, the brands that will do best will be those that target their campaigns' recipients precisely, thanks in particular to multi-local targeting as close as possible to the catchment areas of their points of sale. They will also have an interest in personalizing their messages, in particular via DCO devices: indicating the nearest store on a banner, or implementing different creations and media devices for men and women, or according to age groups. Finally, by combining different levers (display, video, mobile, DOOH, etc.), brands will give themselves the best chances to be more visible and to succeed in a great Valentine's Day operation.