Valentine’s Day has gained its spot as a peak trading period in the Q1 calendar, and retailers have learned that the day is more than just flowers and chocolate.
Gift-giving is no longer limited to significant others; on the contrary, it now includes family members, friends, co-workers, classmates, and even pets.
The Valentine’s Day spending craze is arguably not as widespread as other special occasions, such as Black Friday or Christmas. However, sales figures keep rising, also in Europe. In the United Kingdom alone, Valentine’s Day spending is expected to jump to £855 million this year, 25% more than in 2017. Spanish and French consumers score as the most generous towards their loved ones, with an average expenditure of €112 per person.
Retailers have a huge opportunity to capitalize on Valentine’s Day.
Most shoppers don’t plan ahead for Valentine’s gifts and it’s likely they will search in their area. According to recent research,
more than 80% of consumers conduct ‘near me’ searches
on their smartphones for products and services located in their vicinity. This confirms how a visible online presence has become crucial to retailers.
Dedicated promotions can also help to increase footfall, but capitalizing on Valentine’s Day and other sales events relies on strategic planning and forecasting based on up-to-date and accurate data, and -- of course -- excellent customer service.
Shoppers expect promotions to be visible and products to be in stock and available on the shelves.
Deploying an on-demand Crowd of mobile users is the fastest and most accurate way for retailers to have a complete overview of what customers see and experience directly in-store, as well as to ensure that promotional materials are made available in a timely manner.
Managed though our advanced mobile technology, the Roamler Crowd performs tasks such as checking the visibility and availability of specific SKUs directly in-store, setting up promotional materials such as branded displays or replenishing shelves with missing products.
Are you ready to boost your sales for Valentine's Day and beyond? Get in touch with our experts.
Find more interesting Valentine's Facts in our Valentines Day Consumer Report of February 2019.