Love Blossoms for Online Shoppers

Valentine’s Day arouses various emotions in individuals, ranging from those who embrace the tradition to those who feel obliged to give a gift and those who cringe at the thought of having to buy a gift for their loved-one.

Experts say that 63% of males and 31% of females feel obligated to give their partner a gift; however the trends are shifting for 2010! 47% still don’t know what they are going to buy their other half, with only 12% planning to spend more this year! There is also a forecast 3.3% increase in spending, weighted towards nontraditional gift.

Trends are changing

With the rise of internet popularity at the turn of the Millennium came new traditions. In the second half of the twentieth century, the traditional practice of exchanging cards was extended to all manner of different gifts, including roses and chocolates. In the 1980’s the diamond industry began to introduce jewellery as a Valentine’s Day present. In 2005, traditional flower bouquets were the most popular gift for Valentine’s Day. In 2010, experts predict that traditions will shift even further towards online expenditure.

Millions of people are now using digital technology as a way of sending and even creating their own Greetings cards including e-cards, love coupons and personalized printable cards.

Despite the number of people that are still wary or suffering from the recession, many retailers are seeing Valentine’s as an opportunity to kick start sales for the New Year. H Samuel has up to half price on Valentines jewellery, while Premier Inn has special offers for couples this weekend and Moonpig.com are promoting Valentine’s mugs, t-shirts, personalized cards and flowers.

Sales of flowers are predicted to decline by 5% in 2010, while jewellery sales are said to decline 5% and chocolate sales are predicted to decrease 1%. Spending on traditional ‘purchase in shop’ greetings cards is predicted to be sluggish. So where is the spending shifting to?

Are chocolates and roses a thing of the past?

With the number of online shoppers rising, the Valentine’s Day spend is shifting towards online purchases. Consumers are less interested in buying typical gifts such as chocolates, cards and flowers.

In this tightened economy, still scarred by the recession, many consumers are interested in saving money, keeping their wallets held tightly and trying to get as good an offer as possible. With the introduction of online vouchers and promotional codes, many retailers are now rewarding savvy shoppers with the opportunity to save when they shop online.

The number of searches for “Cheap Valentine’s day gift” has increased massively in 2010, with more and more consumers interested in deals, special offers, discounts etc.

It is not only the online market that will change this year, experts have predicted an 8% increase in restaurant sales for 2010 – mainly due to the fact that Valentine’s is falling on a Sunday this year. Clothing sales are also predicted to increase by 2% and hotel revenue could boost by 2% over the weekend. Consumers have the whole weekend to spend with their loved ones, perhaps being the reason why the sales are shifting and people are choosing what they want instead of receiving the traditional perishable gifts. It has also been said that couples are committing to saving money this year; investing in more long term gifts rather than chocolates that are eaten the same day and roses that are wilted a week later.

Hallmark cards come to life!

With the sales of flowers, traditional cards and chocolates suffering, marketers are developing new ways of promoting these products. Alongside other modern Valentines gift such as engraved Pink iPod’s and Satellite Navigation Systems preloaded with your address, Hallmark have revolutionized Valentine’s Day!

I personally believe that Hallmark is fully aware of the prominent shift in spending this year. Perhaps being a reason why they have introduced Valentine’s e-cards, mobile greetings and augmented reality to their audience.

Hallmark has literally brought cards to life, giving their customers the ability to animate their cards via webcam. Blurring the lines between what is real and what is on their computer screen, Hallmarks customers can amplify their emotional reactions. It is a contemporary and fun way to connect their customers with their loved ones, steering away from the suffering traditional greetings card market.

With technology like this now just a click away, it is not surprising that sales of the traditional greetings card and bouquets of flowers are in decline. Convenience, offers and longevity are becoming increasingly important to shoppers. Gifts that get used every day are the ones that now get remembered, and it seems that high tech gifts are now the way to say I love you!