Valentine’s Day 2018 Consumer Shopping Forecast
As the first major shopping holiday of 2018, Valentine’s Day continues the trend of strong holiday shopping growth reported in Q4, 2017.
Valentine’s Day 2018 shopping forecast*
- 75% of respondents indicated plans to spend about the same or more on Valentine’s Day 2018 compared to 2017.
- 49% of shoppers are planning to celebrate Valentine’s Day, with 20% still undecided.
Experiences continue to surpass gifts
It’s no surprise that experiential items are the most favored among Valentine’s Day gift givers with dinner ranking at the top.
- Dinner (28%)
- Flowers (12%)
- Specialty items (11%)
Specialty items often require advance planning and aren’t “spur of the moment”. Their uniqueness makes them a popular personalized gift choice for Valentine’s Day shoppers. Retailers who have been listening to their customers’ needs, can maximize Valentine’s Day sales by personalizing customer messaging and product offerings.
When and where are shoppers planning to purchase?
This Valentine’s Day, 40% plan to purchase online and 32% in-store. As we get closer to February 14th, customers are pushed in to retail stores to make last minute purchases. As Valentine’s Day falls on a Wednesday in 2018, the weekend prior is the perfect final push for online and in-store sales, and Monday for last minute overnight shipping.
Following is the distribution of that spending in the days leading up to Valentine’s Day:
- 39% plan to purchase 1st week of February (4th – 10th)
- 14% will make their purchases in January
- 12% plan to purchase on the last 4 days before Valentine’s Day
With 35% of shoppers still undecided on when they will make a purchase, take the opportunity to include a sense of urgency in your messaging and compel those on the fence to buy with a great offer.
Valentine’s Day promotions are the perfect time for retailers to revive conversations with shoppers who engaged with their brands in Q4. These may have been new visitors shopping for a loved one during the holidays, but you can retain them and engender loyalty by continuing conversations throughout the year.
* Bizrate Insights’ Valentine’s Day Consumer Research (Jan, 2018)