Valentine’s Day Statistics
Ah, Feb. 14 ... it’s almost spring and a young man’s
thoughts turn to ... how he’s going to be in the doghouse if he forgets
Valentine’s Day! This particular holiday exists to celebrate love.
Named for a Roman Catholic priest who was beheaded for marrying young lovers against the wishes of a general who preferred his warriors unattached – Valentine’s Day is celebrated with gusto in North America. It’s a particularly important date for the floral industry because flowers are a traditional means of expressing one’s affection. There are however, some indications that flowers are losing ground to other types of gifts for this day of romance and it’s worth pondering why this is happening and developing some defensive strategies for reclaiming some lost market share.
A survey conducted by BIGresearch for the National Retail Federation (NRF) titled “2006 Valentine’s Day Consumer Intentions and Actions Survey,” reported that the average consumer planned to spend $100.89 (US) on Valentine’s Day, up a bit from $97.27 in 2005. Most people do observe Valentine’s Day, with 60.9 per cent of consumers planning to celebrate the holiday. Men are the biggest spenders on Valentine’s, with the average male spending a total of $135.67 – that’s almost twice the $68.64 that the average female will spend. The figure clearly illustrates that the pressure is still on the males to come to the table with displays of affection – more so than females. The important shift for the floral industry is the fact that fewer men seem to be buying flowers (52.3 per cent in 2006 vs. 57.8 per cent in 2005) and more had planned to buy some jewelry for their sweetie (22.4 per cent vs. 18.1 per cent in 2005). A survey conducted by the Retail Council of Canada in February 2006 looked at how Canadians shop on Valentine’s Day.
The survey reported that those between the ages of 35 and 44 are the most likely to give gifts (73 per cent), whereas young Canadians between the ages of 18 and 24 are the least likely to do so (45 per cent). It also appears to be true that the French are the true romantics with Quebecers being the most likely to give Valentine’s Day gifts (65 per cent), while residents of Manitoba are the least likely to give gifts (56 per cent). Love’s first bloom is a lucrative one for retailers since Canadians who are in a fairly new relationship (six months to one year) will spend the most on gifts for their loved one(s) on Valentine’s Day ($112). Generosity appears to surface again once a couple is together for a few years. Canadians in long-term relationships (10 years or more) will also spend a large amount on gifts ($100). While Quebecers are more likely to give a gift, Ontarians are the country’s biggest spenders on Valentine’s Day, spending an average of $116 per person, compared to the residents of Manitoba and Saskatchewan, who will spend the least on gifts ($65 and $60 respectively). When it comes to floral expressions of love, 52 per cent of Canadians will buy flowers for their valentine and spend an average of $32.34. Residents of Saskatchewan and Quebec will spend more money on stuffed animals than Canadians elsewhere in the country ($21 in each province, respectively). Valentine’s Day isn’t just for lovers, as the survey also revealed that 38 per cent of those Canadians who were not in a romantic relationship still planned on showering those they love with gifts. Keep this segment in mind as well for innovative marketing strategies.
The statistics illustrate that the first target should be men ages 25-45. Chances are that a good number of these men will be scrambling at the last minute to arrange for a Valentine’s gift for their significant other. Look at ways you can make it easy for them to get organized ahead of time. Consider sending out a post card or electronic reminder. A quirky message inviting guys to “Don’t Spend Valentines in the Doghouse Again” with a picture of a morose dog might just get them to pre-order via phone or Web. You may also print a pre-order form on the postcard, allowing the men to send in their e-mail or phone number to your shop for follow-up. Offer to call them to confirm their credit card number on Feb. 13 along with their personalized message for the enclosed gift card. One innovative florist ran a radio ad on Feb. 14 that said, “Okay, so it’s Valentine’s Day and you got nothin’. No flowers, no card, no candies - nothin’. Buddy, we’re about to save your butt.” This radio spot went on to explain how they have operators standing by, ready to take emergency orders for their “Last Minute Package” – flowers, candy and a nice card with her name and your name pre-printed. Order by two p.m. and delivery in the city was guaranteed by six p.m. Another successful campaign targeted companies with an offer to send an anonymous single flower to a co-worker you admire or who’d been working really hard on a project for the sender. This could capture that 38 per cent of the population who give Valentine’s gifts to ‘non romantic/non family’ recipients. This also could be a very important long-term strategy since romantic gifting seems to be moving more towards non-floral gifts. This may be due to the fact that flowers have a fairly short shelf life. How about a floral subscription so the sender can say “I love you” to the recipient several times per year – spring, summer, fall and winter? Highlight the fact that this allows the gift to be enjoyed for more than just a few days.
Valentine’s Day is that magical time when love is celebrated – be it self-love, romantic love or brotherly love. Expand your definition of love and reach new markets. As far as the traditional Valentine’s markets are concerned, if you give Cupid a little leg up and help him get organized, you may just save him from another night in the doghouse.
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