Getting Your eCommerce Business Ready for Valentine’s Day 2020
As one of the biggest shopping holidays of the year, the period before Valentine’s Day is the perfect time to get your store ready for an influx of shoppers. With plenty of ways to capitalize on Cupid, from self-care offerings to pet presents to countdown promotions, it’s high time to get your eStore ready for Valentine’s Day 2020.
Following the trends, we picked up on some key insights to propel your eStore Valentine’s Day preparations. Ready to get your site ready and enjoy an uptick in V-Day sales?
Set Up Your Store to Feel the Love on Valentine’s Day
Leading up to February 14th, lovers around the world flock to find the perfect gift for their intended Valentine, with almost 30% of consumers using online stores to find the right surprise for their sweetheart. eCommerce entrepreneurs are perfectly positioned for maximum profits leading up to Valentine’s Day: in 2019, eStores accounted for more than 14% of retail purchases globally and this is expected to increase in 2020.
With an estimated $21 billion of Valentine’s Day shopping anticipated in the US alone, online retailers are the big winners, so make sure you are getting noticed with Valentine’s Day tailored marketing.
Who is Shopping for Valentine’s Day?
Fewer Americans are celebrating Valentine’s Day in traditional fashion, down from 70% of adults 18-55 in 2009 to less than 50% celebrating a decade later, but those who do are spending more than ever before. Millennials are leading the charge, with 10% more adults aged 25-34 celebrating than those aged 55 and older. The gender gap also factors, with men outspending women by double on Valentine’s Day purchases.
The UK is a loving demographic, with half of the population marking the day in some way. UK Valentine’s Day sales reached $84 million in 2018, and with a third of buyers heading online to shop, eStores have huge earning potential this time of year.
Globally, Spain boasts the biggest Valentine’s Day spenders, at close to $150 average purchase, while French women have the highest expectations of their partners’ present purchasing. Not all European consumers are bitten by the love bug; 31% of Germans confessed that in 2019 they entirely forgot about Valentine’s Day.
Asia celebrates love on different days depending on the country, but in Japan, February 14th is when women typically give a gift of chocolate to male colleagues and love interests, which is reciprocated a month later when she moves to the receiving end of gift-giving.
2020 Valentine’s Day Gift Trends
Chocolate and candy lead the present-giving pack with 50% of shoppers choosing sweets for their sweetheart, but greeting cards, flowers, and jewelry are all popular purchases. Pet product sellers are in luck this Valentine’s Day – US pet lovers pampered their furry-friends to the tune of $886 million on Valentine’s Day 2019.
Self-care is also leading the eCommerce market, especially for single, younger adults aged 18-35. More and more young people are choosing to mark the day by treating themselves to something special or by getting together with other similar-minded friends. Appeal to this audience by celebrating non-romantic love on Valentine’s Day or by promoting ‘anti-Valentine’s’ pickings for the rebels out there.
3 Tips for eStore Valentine’s Day Marketing
1. Start early
Most consumers start thinking about purchasing presents for Valentine’s Day at least a week before the day, so don’t wait until the last minute to start your heart-themed promotion. In the US and the UK, most Valentine’s Day gifts were purchased between February 5-8, making this an optimal marketing window to boost your sales.
2. Embrace the Cupid countdown
Since Valentine’s Day is a global shopping holiday, an additional reason to kick off your campaign earlier is to guarantee deliveries arrive on time. Remind your customers to get their shopping done and avoid disappointment with promotions. One great idea is to run a countdown to V-Day with special deals for each day, starting on February 1st.
3. Don’t skimp on the hearts
Changing your eStore’s design and sending a special Valentine’s Day-themed email are other ways to attract more customers. HIghlighting trending Valentine’s Day products, for pets or people, or offering special deals on these items is another way to generate more interest in your eStore.
Manage Your Store’s Valentine’s Day Payments with Payoneer
Payoneer empowers eCommerce businesses with a comprehensive cross-border payments platform. With fast, flexible, secure and low-cost solutions, Payoneer makes sure that you get paid globally as easily as they do locally. Manage your business’s finances, process payments, and pay suppliers, manufacturers, and logistics with Payoneer so that you can focus on growing your business – on Valentine’s Day and every day.
Interested in learning more about other global eCommerce holidays? Download our free 2020 eCommerce calendar!