Tips for maximising your Valentine’s Day sales
Valentine’s Day is just around the corner, so here are our top tips to help e-commerce sellers maximise their sales between now and the most romantic day of the year.
With more than 28 countries celebrating, Valentine’s Day is one of the biggest retail events worldwide, as couples, friends, and anonymous admirers send and receive gifts and tokens of affection and appreciation. With Valentine’s Day sales estimated at $415 million in Australia in 2022, it’s the perfect opportunity to grow your business.
Like so many other shopping days, eCommerce platforms are the go-to place for consumers looking for gift ideas, so it’s vital that you have a Valentine’s Day sales strategy ready for the big day – particularly one that helps you target different regions and audience segments. Read on to find out more.
Prepare for the last-minute rush
Google Search data shows that Valentine’s Day shoppers start browsing for gifts around the end of January (see below graph). This means you’ll need to be ready several weeks ahead of the event itself since consumers are already looking to plan or make purchases.
When building a sales strategy for Valentine’s Day, make sure your eCommerce shop front, promotions, and delivery dates are finalised by the last week of January at the latest. This way, you still have plenty of time to place last-minute orders.
Even if you don’t sell the more common Valentine’s Day gifts (chocolates, flowers, etc), you can still boost sales using novel marketing strategies. For example, target your products towards the “Galentine’s Day” market (celebrated on 13 February by women amongst their friends) or share outfit ideas for dates, romantic recipes, gifts for families or pets – anything to help mark the occasion. Similarly, you can look to other retail trends for inspiration or see what competitors are doing.
Spice things up with themes
The next step in your Valentine’s Day sales strategy is to make themed marketing assets for all your digital touch points. These should include your website’s homepage, social media accounts, email signature, etc. What’s more, make sure to specifically mention “Valentine’s Day” in any discounts and promotional materials you share. Doing so will help customers identify the goods they’re looking for and see deals available on the market.
Win them back with retargeting ads
Studies show that Valentine’s Day cart abandonment rates are quite high at 76%, so targeted email campaigns can help you win back customers. Re-engagement campaigns can generate a 5% increase in Valentine’s Day sales, significantly impacting your brand’s bottom line.
This sales strategy will be crucial in the earlier stages as consumers look to plan purchases or shop around one last time before parting with their money. So, remind customers of items they’ve viewed and offer discounts to seal the deal.
Seduce shoppers with cross-selling
Valentine’s Day is about making a loved one feel special, so leaning into that theme is a great way to boost your average order value. However, average spending figures vary between markets, so target high-intent consumers the most. For example, US shoppers spent an average of $164 on gifts in 2021, while UK consumers spent an average of £40 or less the same year and Aussies spent an average of $111 in 2022. Interestingly, the same data from the UK showed that younger consumers tend to spend more, so make sure you research your target audience’s spending habits to encourage maximum spending.
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Disclaimer: These comments are the views and opinions of the author and should not be construed as advice. You should act using your own information and judgement. Whilst information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Please consider FX derivatives are high risk, provide volatile returns and do not guarantee profits.
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