February 14th is Valentine’s Day!
Named for Saint Valentine, this is a day when people express their love by sending cards, exchanging gifts of chocolate, roses or personal items, and even sharing romantic dinners by candlelight.
Any way you run the numbers, Valentine’s Day is a big deal to Canadian Consumers:
- On average Canadians are expected to spend $92.30 on Valentine’s Day gifts, a 2007 study conducted for the Retail Council of Canada found.
- 33% of Canadian women think that the man should pay for a Valentine’s date, while 31% say that it should alternative back and forth, according to http://www.gdsourcing.com.
- 58% of Canadian men think that the man should pay for a Valentine’s date, while 21% say that it should alternative back and forth (gdsourcing.com).
- 54% of single Canadian men and 50% of single Canadian women hope to find someone special for Valentines Day 2012 (www.gdsourcing.com).
- More then 30% of Canadians would prefer to have an intimate dinner as their ideal Valentines Day date, according to a 2012 survey by Hotels.com.
- More then 66% of Canadians said they cared less about receiving gifts, and more about spending quality time together (Hotels.com survey, 2012).
- 58% of Canadian respondents said that lingerie was the most important item for a romantic Valentines evening (Hotels.com survey, 2012).
- 51% of Canadian respondents said they would most like to find a bottle of champagne in their room on Valentine’s Day (Hotels.com survey, 2012).
- 47% of men purchased their gifts the day before or on Valentine’s Day. This is compared to the 60% of women who get their shopping done a week before, according to a 2009 survey by MasterCard Canada.
- 81% of Canadian men and 93% of Canadian women say that they give Valentine’s Day gifts because they want to, not because they feel they have to, according to a MasterCard Canada survey in 2010.
- 72% of Canadians give a gift to their partner, 50% give to their parents, 47% to their friends, 42% to siblings and 10% to their colleagues (MasterCard survey, 2010).
Business Lesson From All These Stats:
Valentine’s Day is big, the second most lucrative holiday for business in the calendar. If it’s not one of your marketing targets, it probably should be. Think about what products you could create or promote to increase Valentine’s Day related sales for 2015.