Kanye West begins his 2008 hit Love Lockdown,
“I’m not loving you, way I wanted to…”.
Today, as Valentine’s Day 2021 nears, Kanye’s message rings true as consumers are forced to navigate the holiday of love within their own lockdowns. With rising COVID-19 cases and continued restrictions on indoor dining across the country, consumers are reimaging how to celebrate and spread love from a safe social distance.
For over a decade, The National Retail Federation has surveyed consumers about how they plan to celebrate Valentine’s Day. Let’s take a look at how the pandemic has altered this year’s Valentine’s day celebration and how Datonics can help marketers and brands manage these shifts:
Love Lost? Nope. — More than half of U.S. adults (52%) plan to celebrate Valentine’s Day this year, spending a total of $21.8 billion. That’s slightly lower than last year (55%) but not as big of a difference as many expected given the circumstances, showing that people are looking for any opportunity, or excuse, to bring a little extra joy into their lives, or even just to mix up the routine.
Buying for the Bubble— It’s not all about romance. Consumers are embracing broader connections and planning to spend an average of $164 on their loved ones including family members, friends, children’s classmates/teachers, co-workers, and even pets. 27% of consumers say they will buy Valentine’s gifts for their pets.
Dining In, Baby — Plans for an evening out fell from 34% to 24%, the lowest in survey history, translating to $1.5 billion less in spending on an evening out this year. However, 41% are planning to put their quarantine cooking skills to the test and whip up a special dinner at home.
The Drought — Compared to last year, those between the ages of 18 and 24 are significantly less likely to be celebrating Valentine’s Day. It’s not just that they are passing on a romantic night out; they are also less likely to be planning get-togethers with friends or treating themselves to something special — activities that, in a typical year, are popular even among younger, single consumers.
E-commerce. E-commerce. E-commerce. — Purchasing trends are on par with how consumers have been buying gifts since COVID-19 hit. About 39% of lovesick shoppers say they’re planning to buy their Valentine’s gifts online this year, the highest in survey history.
Spending by Age— Ages 18-24 plan to spend an average of $184. Ages 25-34 tend to have higher incomes and children to buy for and expect to spend $240. Ages 35-44 are the biggest spenders at $264.
Spending by Gender— As in each year of the survey, men plan to spend more than women at $231 vs. $101.
Valentine’s Day success for your brand requires creativity in marketing, increased personalization, and accurate targeting. As always, Datonics is here to help:
Use Datonics Audience Insights to learn more about your audience’s interests, hobbies, demographics, and what gifts and product options are likely to be the most meaningful to them on Valentine’s Day. You might find that your products work surprisingly well for a niche market for Valentine's Day.
Reach the right people. Activate Datonics data and target those who are spending the most this year according to gender, age, relationship status, parental status, location, and even pet ownership. Connect with us and learn more about our data.