How Aussie Businesses Capitalise On Consumer Emotions On Valentine’s Day
In this guest post, lecturer in marketing at UQ Business School, Dr Nicholas Pontes (image below), discusses how Australian businesses are capitalising on a ‘fickle’ event, and why many Australians are planning to boycott the day in 2019.
Valentine’s Day is an important date for the Australian economy in a quiet time post-Christmas, with a spend of $1.09 billion anticipated to be dropped on gifts and experiences of every kind.
Valentine’s Day is the most important day of the year for a number of industries, including florists and confectioners – consumers will spend around $123 million on flowers and it’s the third busiest day of the year for the chocolate industry, after Easter and Christmas.
Valentine’s Day has also become the most popular non-holiday non-weekend day of the year on which Australians get married.
For businesses, small and large, Valentine’s Day is one of the biggest opportunities to capitalise on consumer emotions, with huge financial benefit on the table.
Consumers will spend high on getting ready for the occasion with projected sales for clothing and lingerie to reach the $90 million mark.
But nothing communicates love more than diamonds.
Australians are expected to be spent $53.6 million dollars on jewellery and accessories with men spending on average $386 dollars on their loved ones while women will spend around $267 dollars on this category, much higher than the $90 projected expenditure per person for this date.
Why do consumers buy into Valentine’s Day?
From a behavioural perspective, spending more resources (via more expensive gifts, unique experiences and devoted time) towards their loved ones is a signal of long-term commitment, which in turn reinforces their relationship maintenance goal.
Because resources are scarce, the more one spends on their loved ones, the less they will have to spend on attractive alternatives.
This provides their partners with some sense of security that their relationship is long-lasting.
Smartphone optimisation, and SEO are key
This year, retailers will take advantage of increased demand and consumers’ desire for convenience.
Google Insights reports show that on the day prior to Valentine’s Day, gift searches on mobile surpasses those made via a desktop, with 36.9 per cent of consumers using a smartphone and 44.7 per cent using a tablet to help them make purchase decisions and compare prices.
Taking advantage of keyword packs to maximise coverage and utilising Google’s Call, Promotion, and Location extensions to drive relevant traffic, is an important strategy to capture demand for key categories in the days leading up to and on Valentine’s Day.
Marketers will take advantage of last-minute and deal-hungry shoppers, directing searchers to targeted landing pages featuring the best Valentine’s Day offers.
Value adding and personalisation target the last minute and impulse shopper
Australian businesses are also capitalising on demand by offering last minute delivery and personalisation.
Freshflowers.com.au, for example, guarantees consumers same day Valentine’s Day flower and gift delivery, while EdibleBlooms.com.au allows customers to use AfterPay providing flexibility on payment options.
Giving consumers the option to buy online and pick-up in store also enhances convenience and increases the window that businesses have to sell their product or service.
Targeting last minute and impulsive shoppers, retailers often offer additional products like a love card, special gift wrapping, and/or bundle product specials that can increase customers overall purchase basket by 30 per cent and more.
Even the Valentine’s Day boycotters are contributing to the industry
Despite its importance to Australian retailers, some data suggests that around 60 per cent of Australians will boycott Valentine’s Day altogether.
For some, Valentine’s Day is a time to be reminded of loneliness or a time of self-reflection and evaluation, and as a result, many consumers enact distinct rituals (e.g., girls’ night out, self-gifts) for their single situations.
Evidence suggests that many of these people will use the date to catch-up with friends (15 per cent), buying themselves a present (11 per cent), and dine out (4 per cent).
Spend on others, spend on yourself. Either way, retailers should celebrate the surge of customer spending surrounding Valentine’s Day.
Latest News
Sydney Comedy Festival: Taking The City & Social Media By Storm
Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]
Global Marketers Descend For AANA’s RESET For Growth
The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]
Is Meta’s New AI Chatbot Too Left-Wing?
Meta's chatbot accused of being left-wing after being caught wearing a Che Guevara T-shirt & listening to Billy Bragg.
TV Ratings (23/04/2024): Why Did No One Tell Angela That Farmer Wants A Wife Is Set On A Farm?
As wonderful as this headline is, let's face it, we all know an 'Angela', don't we?
PubMatic Unveils New AI Partnership To Turn Social Posts Into Ads For Any Digital Channel
Here's some nifty tech for turning social posts into ads. Assuming said posts aren't one-star character assassinations.
Intuit Mailchimp Makes A Splash With Its First Australian Brand Campaign
Ever laugh along at a gag you didn't get so as not to appear dumb? Get ready for more feigning with this new work.
GumGum’s Rob Hall: Advertisers Can No Longer “Rely On Binary Descriptions” Of Consumers
If anyone's got their finger on adtech's pulse, it's Rob Hall. He also avoids using the good paper in the office printer
Mastercard Nabs Florencia Aimo From Marriott International
Marriott International's Florencia Aimo jumps from the hotel business to the exploitative credit card one.
Bastion Agency Appoints Cheuk Chiang As New ANZ CEO
Cheuk Chiang takes the reins over at Bastion Agency. But not the rains down in Africa.
Spotlight On Sponsors: Major Sponsorship Wins After A Disappointing Week In Sport
B&T continuing our deep dive into local sport sponsorships & that's despite not a single offer of a free ticket as yet.
Macca’s Marketing Director, Samantha McLeod On Big Mac Chant: “What Was Once Old Is Now Cool Again”
Macca's using the power of nostalgia in latest Big Mac campaign. Well, only for those who've ever eaten one sober.
World Premiere Of Midnight Oil: The Hardest Line To Open Sydney Film Festival 2024
Oil's biopic to open Sydney Film Festival. Here's hoping Molly Meldrum will take his pants down at the premiere.
Entries Are Now Open For The 2024 Brandies, IntelligenceBank’s Annual Brand Marketing Awards
The Brandies are, of course, a prestigious marketing gong and not the mystery tipple favoured by nannas everywhere.
The Fred Hollows Foundation Appoints Ardent For PR
Yes, we all like to have a joke at PR's expense. But sometimes it does important work, like this.
AI, eCommerce & Marketing Specialists Are In Increased Demand By Businesses, New Data From Fiverr Shows
Has your philosophy & anthropology degree left you with nothing but a huge HECS debt? Here's what you should've studied.
Perth’s First 3D Anamorphic Billboard Arrives Courtesy Of oOh!media
Do you love a buzzword? Now you can add anamorphic to the list as it relates to billboards, not a colleague's ears.
MasterChef Australia & Crown Resorts Launch Unique Dining Experience With ALUMNI
A pop-up restaurant staffed by MasterChef contestants! That's fine dining prices for first-year apprentice chef cuisine!
Amanda Laing Announces Resignation From Foxtel Group
Foxtel's chief commercial & content officer heads for the exits. Read nice things the bosses said about her right here.
The Lost Letters From Our Diggers: News Corp Unveils ANZAC Day Special
It's nice when brands respectfully acknowledge ANZAC Day.
Howatson+Company Acquires Akkomplice
Large indie acquires a slightly smaller indie. Much like a shark eating a tuna, just with less thrashing and blood.
Google Delays Third-Party Cookie Deprecation Again
In good news for the sale of picture library biscuit photos, Google continues to tease over the end of cookies.
Education A Low Priority For Aussies More Concerned With Cost Of Living Forethought Study Reveals
Study finds Aussies cutting back on education due to cost of living. Booze & Uber Eats sales remain largely unaffected.
“I’m Still The Same Person That I Was”: Rikki Stern Says “Fucc It” To Cancer Stereotypes
B&T always happy to promote the anti-cancer cause. Even brands that massively overdo it with the hot pink.
The Unapproved Climate Certification Allegedly Causing Mass Greenwashing
Are you left flummoxed in the canned tuna & free range eggs aisle? Just wait till this green certification gets up.
TV Ratings (22/04/2024): Fans Mock “Over The Top” Reaction To New MasterChef Judges
MasterChef returns for its 2024 season. B&T stands by putting peppercorns in Gravox & no one will be any the wiser.
Dentsu Restructure: Muddle, Harvey & Johnston Take Leadership Baton As Bass & Yurisich Exit
A large broom has swept through Dentsu's local ops this morning, taking with it some big names & the air con's cobwebs.
Industry Shares Trends Shaping The Industry This International Creators Day
B&T's asking adland creators to reveal their top trends. And it's not good news for your Jenny Kee cardigan collection.
Mable Extends HOYTS Sensory Screenings Partnership
Mable has extended its HOYTS sensory screening partnership. Vigorously defends its two-star Oppenheimer review.
Orphan Launches ‘They Need Our Help. We Need Yours’ For Children’s Cancer Institute
Anything to do with childhood cancers has B&T's 110% support. That said, we do ignore the red meat & alcohol warnings.
Smile Team Orthodontics & Keep Left Collaborate On Smile-Inducing Campaign
As parents would attest, given the cost of orthodontics you'd expect this campaign to be a lavish production indeed.
Opinion: How Video Calls Neglect Learning Diversity
Need an excuse to duck out of a video call this arvo? Show this to your boss.
DoubleVerify Achieves First-Of-Its-Kind Responsible AI Certification From TrustArc
DoubleVerify receives responsible AI certification. However, not its robotic vacuum that's been seen menacing the cat.
Smile For A Good Cause: The Social Media Campaign Giving Back To The Community
Are you known as the office Austin Powers? More for you teeth than shagability? Get snappy new fangs with this news.
Elon Musk Mocks Albo After ESafety Wins Court Injunction Against X
Albo's 2024 from hell continues - Rabbitohs in crisis, down in the polls and now feuding with world's richest man.
Real Estate Developer In Hot Water Over “Sexually Exploitative” OOH Campaign
Real estate agents again tops in the 'least trusted profession' polls, nudging used car salesmen & ad creatives.
Epsilon’s Shane Hanby: Post-Cookie Era Relies On “Teamwork” Between Brands, Marketers & Tech
This pro predicts more "teamwork" in a post-cookie era. Which spells bad news for the uncooperative or plain stubborn.