Valentine’s Day: Love & Consumerism

Valentine’s Day is one of the most celebrated holidays around the globe, making it an attractive proposition for both brands and marketers alike. Not only is it a great opportunity for brands to increase sales, but also to enhance brand image and engage with consumers.

Why is Valentine’s Day such big business for brands?

Valentine’s Day spending has grown year-on-year in the US; in fact last year Americans spent a whopping $17.6 billion for this one day.

On average, men spend roughly twice as much as women on Valentine’s Day (spending $169 in comparison to $86) and young adults ages 25-34 years, prove to be the biggest spenders of all. In comparison, consumers in the UK spend an average of £119 per person.

But spending on Valentine’s Day gifts is not limited to spouses or significant others only. Indeed, it’s increasingly common to buy such gifts for family, friends, children’s classmates and teachers, co-workers, and even for pets!

For the full article: http://www.northstarhub.com/blog/perspectives/valentines-day-love-consumerism/

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