The most romantic day of the year, it’s also a way for retail, hospitality and travel businesses to cash in and lift post-Christmas sales in an otherwise quiet period.
Thought to originate from a Roman festival called Lupercalia, Valentine’s Day has been celebrated for centuries. Today it’s remains a calendar highlight in many countries, with cards and gifts often used as an expression of love and appreciation.
A desire to indulge loved ones
In the US alone, $25.9 billion is spent on Valentine’s Day with 52% of consumers planning to mark the occasion. Meanwhile, in the UK, half of Brits intend to spread the love, racking up over £2.2billion.
Those in younger generations and in young relationships have been found to spend the most. So retail initiatives that target young consumers and couples are more likely to reap higher rewards.
Traditionally, flowers, chocolate/candy and jewellery are favourites to share. According to Euromonitor International, the region with the highest retail sales of seasonal chocolate is Western Europe, reaching nearly $7bn in 2022. France leads, followed by Germany and the UK.
There’s also an appetite for non-traditional gifts
Increasingly, consumers are searching for non-prescriptive gifts that reflect their loved-one’s interests, personality and even ethical and environmental stances. It’s becoming more about experiences, doing things together, games, workshops, crafts as well as movies, gigs and meals out.
Retailers are also reporting that Valentine’s buyers are not just focused on partners, they’re also making indulgent purchases for families, pets, and friends. Another growing trend is self-love where singles are getting in on the act by treating themselves to a special purchase because they’re ‘worth it’.
Your sales strategy can help spread the love
Here’s some of the extras that Valentine’s shoppers are looking for:
- Extra rewards: spice up loyalty points and reward values to encourage loyalty sign-ups and show customers you care;
- Valentine’s discounts: offer special purchases and bundles so they can gift more;
- Special expedited shipping and click and collect: make it easier for them to make last minute purchases;
- Free samples with purchase: especially on items such as beauty products, so they have an extra treat for themselves;
- Complimentary gift wrapping: to add value and so they have one less thing to worry about it;
- Buy now pay later: for those extra big purchases like jewellery, clothing and travel and to keep their credit card debt down;
- Split bill for hospitality: with many young couples going Dutch, split bill functions especially when paying at table are popular.
Don’t forget your most valuable touchpoint
Most stores will feature banners and displays all focused on the season of love. Often overlooked is the one area that’s sure to get your customers’ attention – the checkout.
The multimedia function on your POS can help you boost your Valentine’s sales by delivering targeted content. To optimize your sales why not use it to:
- display a Valentine’s related intro screen;
- create cross sell opportunities by suggesting add-on items;
- create urgency with a Valentine’s count down.
At Castles Technology, our Android POS devices feature large, high-quality color displays capable of performing various functions and more. They don’t just accept sales; they help stimulate them too. When paired with Castles Technology’s CasHUB platform, an innovative cloud-based Terminal Management System, your POS experience reaches new heights. CasHUB exceeds expectations by offering value-added services for merchants. Effortlessly push photos and videos to terminals, enabling targeted marketing campaigns through the Content Management System. What’s not to love!