A highly anticipated event for significant others and retailers alike, Valentine’s Day is all about pampering and indulging. And with Canadians expected to spend a near-record amount on their loved ones this year, it’s more than clear that these days, showing your love often comes with a high price tag.
So, what exactly are Canadians spending their money on? And how much does the day typically cost?
Hey, Big Spender
As it turns out, a heart-shaped box of chocolates and a bouquet of flowers doesn’t quite cut it. To celebrate, Canadians are spending approximately 37 million dollars collectively on Valentine’s Day. Among the 15-million couples in the nation, men are spending an average amount of $135.00, while women generally fork out an average of $68.00 on their partners.
The top spending and the most lucrative categories will be jewelry and watches ($3.6 billion), cosmetics and fragrances ($2.89 billion), women’s lingerie and sleepwear ($1.77 billion) and men’s underwear and sleepwear ($796.2 million).
The Impact on Businesses
There’s no doubt about it; February 14th is one of the biggest consumer holidays of the year, conveniently falling just after Christmas and before Mother’s Day. For this reason, it’s important to make sure that you start marketing early, and that your campaign efforts are consistent, with impactful messaging.
By using a combination of shared media products, online advertising and social media, as a business owner, you will reap rewards in the long-term. You’ll also have a solid foundation to ensure your product or service is on the top of everyone’s mind – for a substantial lover’s spending spree.
Seize the Opportunity with Shared Media Products
So, how can you use shared media products to capture Valentine’s spending? As a small or medium sized business owner, this is the perfect opportunity to build relationships, attract new business and increase sales. After all: it’s only natural to want to get a piece of that very lucrative Valentine’s Day pie.
Here are three valuable pieces of advice when it comes to ensuring that you get your share:
- Show your love as a business owner by offering a special ‘Valentine’s Day-only’ offer. Remember: a coupon or voucher with a special discount can serve as the perfect gift for that special someone.
- Curate innovative and creative gift ideas by sending a shared media products campaign for him and her. This holiday is already emotionally-charged, so make the most of it by enticing a desired emotional response!
- Sweeten your deal and get noticed. Consider including a special treat with your Valentine’s Day Shared Media products, which will help your marketing efforts stand out in the crowd.
With a little creativity and innovation, your Valentine’s Day shared media products marketing campaign will have a lasting impact, long after the day comes to an end. This is your opportunity to increase your sales and create brand awareness among new and existing customers. Contact DRMG today to get started!