DO YOU WANT TO WIN OVER YOUR CUSTOMERS’ HEARTS AFTER A SUCCESSFUL FESTIVE SEASON? HERE ARE SOME INSIGHTS THAT CAN HELP YOU BETTER UNDERSTAND WHO’S BUYING WHAT FOR VALENTINE’S DAY.
Valentine’s Day is the first retail holiday of the year and South African shoppers are spending more than ever on what’s considered the most romantic day too. According to the annual Mastercard Love Index (created by analysing credit, debit and prepaid card transactions over a three-year period), sentimental spending in South Africa has increased by 41% since 2014.
And if you ever needed a reason to go digital, consider the fact that 57% more e-commerce transactions were made for the majority of gift purchases in recent years. Most Valentine’s purchases globally still happen in person due to the last-minute dash on 13 February, where 47,4-million transactions were made on that day alone over the past three years.
Are you a florist/nursery owner looking for ways to grow your business? Download our guide to growing your business and accelerate sales this Valentines Day.
DID YOU KNOW?
Recent figures have shown that the stomach is increasingly the way to a lover’s heart, with spending in restaurants soaring by 71% in South Africa over the past four years. Our client George's Bread & Co. has taken advantage of this. Read George's story on how Sureswipe has helped him grow his business.
6 Ways to cash in on love this February
Are you in tune with your shoppers? This Valentine’s Day make an effort to appeal to them – whether they’re shopping ahead, last minute, for themselves, their romantic partners or family. Here’s how:
- What do your customers want?
Research has found that male consumers spend more than females during the Valentine’s period. This means you could possibly make your pricing slightly higher for gifts more likely to be bought by men, and lower for gifts mostly purchased by females.
91% of couples will treat their significant others and/or spouses to something for Valentine’s Day.
- Compile a Valentine’s Day gift guide
Gift-giving can be tough, especially with so many milestones throughout the year. Creating themed gift guides reduces the stress of the holiday for your customers. Gift guides could be targeted towards lifestyle — for example, the techie, the adventurer, the athlete, the bookworm, etc — or play to the relationship type — Valentine’s Day gifts for her, him, teachers, dogs, etc.
Walmart took this approach on its website:
Rather than grouping products together in-store and calling it a day, the company supplemented that effort with marketing content for its email list, social media followers, and website that featured Valentine’s Day gift ideas.
Like Walmart, you could also consider throwing in some potential brand partners or local restaurants to further your reach — maybe they’ll promote your content in reciprocation for the promotion.
- Evoke customers’ emotions
“Emotional persuasion is more than just appealing to the romance of Valentine’s Day,” says Shopify’s Shanelle Mullin. “It’s a technique that retailers can use year-round to tap into consumers’ emotions and drive sales.”
One of the best ways you can capitalise on the emotional nature of Valentine’s Day is storytelling. Consumers respond when there is something to relate to, and that makes it easy for them to envision themselves in that same moment.
For example, jewellery brands like Cartier have shaped their Valentine’s Day drives around the theme of love, with storytelling campaigns where the product is integrated seamlessly into the romantic moments in their ads.
- Introduce your brand to new customers
41% of consumers between the ages of 25 and 34 prefer ‘experience’ gifts rather than tangible items, such as jewellery or chocolate on Valentine’s Day. This Valentine’s Day you have the opportunity to help consumers create amazing experiences for their loved ones. As a bricks-and-mortar store owner, you have an advantage over online-only brands, because you have the physical space in which to create those experiences.
This is the perfect time to attract new customers with an experiential approach that will set you apart from your competitors who may be following the same formula year after year, while consumers’ interests are changing.
- Offer convenience for the last-minute rush
Most Valentine’s Day shoppers are procrastinators:
32% of Valentine’s Day purchases are made the week of the holiday, and just 16% as far in advance as the first two weeks of January. This is helpful for the timing of your messaging and promotions.
Alleviate the stress that many last-minute shoppers face by making convenient offers available, such as:
Receive a free Valentine’s Day card with your purchase
Get your gift wrapped in-store after buying it
Buy a handy pre-packaged gift basket that doesn’t require wrapping
For a limited time, fresh flowers for sale, or free with your purchase
Free delivery of any product or number of items over a certain amount
- Alleviate the stress that many last-minute shoppers face by making convenient offers available, such as:
Establish a great customer Loyalty programme to increase profitability while building and maintaining healthy and long relationships with your customers, beyond Valentine’s Day.
Missed out on the Valentine's Day retail rush, Sureswipe has you covered. Read our article on making the most of the Easter Rush.
DO YOU WANT TO FURTHER ENHANCE CUSTOMER SATISFACTION AND DRIVE LOYALTY?
Talk to Sureswipe about a cost-effective Loyalty programme. We can assist in customer retention through a platform that helps you communicate directly with customers through email and SMS. Call 0860 200 111 or fill in your details here and we’ll call you back.