February is just around the corner and you know what that means – Valentine’s Day.
Some believe that Christmas sales do end on the 5th-8th of January, but they are wrong.
Valentine’s day is a very big deal; in fact, 2016 was a very good year for Valentine’s Day sales as they amounted to a staggering $19.7 B in revenue alone.
But who actually pays the big bucks?
Probably married couples and engaged ones, correct?
No, unmarried couples spend $107 on average while married ones spend around $96 – 11% difference.
Ok, that’s cool but we are talking about couples which are what, 25% of the population? Again, wrong.
Single people spend a lot of money on Valentine’s Day, mostly trying to get someone for it with men naturally spending more, at about $71 on average (while single women only spend $40) – half of the population that actually celebrates the holiday are singles and not couples.
According to Bing, the most searched for term on Valentine’s Day is Etsy; as people would prefer buying something creative that could have a lasting impression over some gift that could only be given on Valentine’s, anniversary or a birthday.
We decided to check this trend together with other terms such as flowers and chocolates, these were our findings:
Etsy was ranking high, but flowers were ranking higher – especially around Valentine’s day.
Naturally the trouble with flowers (we aren’t even going to mention results for chocolates as they were ridiculously low) is that they wilt quickly and lose meaning post Valentine’s Day but people are still expecting to receive flowers on Valentine’s Day, which makes it a big deal as you can see.
Results for VD weren’t surprising in places like The States, UK, Canada and the likes but were incredibly surprising in India:
But when you search chocolates, significance rose even further in India:
45 for chocolates in comparison to 33 for Valentine’s Day gifts – meaning chocolate is a really big thing in India.
Most shopping and clicking for Valentine’s Day occur around two weeks prior to the holiday, as you can see here:
Pets also enjoy this holiday, with people spending $68 on average on their pets (out of $681 M spent last year on pets alone).
The best time to advertise and make the big bucks on Valentine’s Day is actually the last week (7-14 of February), with highest CTR sighted:
The last one is naturally due to the fact that February still is a very cold month and people prefer staying home in front of the fireplace (because it’s both romantic as well as cheaper than going out).
Interestingly enough, hotels are big in the US and the UK but not in Canada:
Movies were of no interest outside of the US and Canada:
And restaurants were big in the US and Australia with the latter taking the lead (probably due to the fact that it’s the middle of summer in Australia):
We’re going to finish off with Bing’s checklist for a successful Valentine’s Day campaign: