They say you can’t buy love, but Valentine’s Day is the third-highest spending holiday for U.S. consumers. In 2012, overall Valentine’s Day spending reached $17.6 billion. That’s a lot of love for the brands and businesses who cater to this special day, and search marketers will be busy playing cupid to match up the right consumers with the right retailers.
Opportunities abound for retailers, restaurateurs, and travel agents to connect with lovestruck shoppers via their search campaigns by evaluating keywords, including seasonal queries, ad copy promotions, and targeting options. Sharp marketers are finalizing their campaigns now, because online queries for gifts ramp up a month before Valentine’s Day and 60% of gifts are purchased five days before the holiday.
To help your SEM arrows hit the mark, here are some useful insights into the habits and preferences of Valentine’s Day consumers culled from a variety of top sources, including “American Express Valentine’s Day 2012: Open Hearts, Open Wallets”; National Retail Federation Consumer Trend Data; and BIGInsights Consumer Intentions and Actions Survey:
- Top gifts from men include flowers, candy, greeting cards, and an evening out
- Top gifts from women include greeting cards, candy, an evening out, and clothing
- 36% said they intend to give flowers. Individuals with an income of $50K+ indicated a purchase intent of $45.95
- Just over 50% said they’ll give candy. Individuals with an income of $50K+ indicated a purchase intent of $25.43
- 35.6% said they’re going to celebrate with an evening out
- Dining out:
- 42% plan to dine at their favorite restaurant
- 13% would go to a restaurant offering a promotion
- 53% of dinner reservations were made one week ahead
Here are more interesting takeaways from the studies:
- 20% of adults plan to purchase a gift for other family members, friends and classmates
- About 20% will spend an average of $22.77 on their pets
- 4 million proposals were planned in 2012, with 30% of consumers indicating a weekend getaway is the best setting for a proposal
Don’t hesitate. Make a commitment to fine-tune your Valentine’s Day SEM campaigns in plenty of time for the big day. For further insights and actions, contact your Yahoo! Bing Network account manager.