You CAN Put a Price on Love, says latest Adobe Digital Index
Adobe expects consumers will spend more than $500 million online this Valentine’s Day
But nearly half of that spending won’t occur until 4 days before Valentine’s. Better late than never, right guys?
According to Adobe Digital Index data and based on the analysis of 30 million visits in 2013, online sales in the Jewelry and Gifts category, which also includes flowers, chocolates, and related items, will peak the Monday before Valentine’s at four times normal sales and remain high (3.5x of normal) right up to Valentine’s as forgetful shoppers pick up last-minute gifts while springing for next-day shipping.
The Valentine’s Day spike for Jewelry and Gifts is most apparent when compared to the expectation for other gift-related categories. For example, categories that are typically associated with gifts for men (electronics, sporting goods) remain relatively flat leading up to Valentine’s. C’mon girls!
Five year growth pattern
Spending expectations for 2013 are in line with Valentine’s shopping patterns over the last five years. However, because Valentine’s falls on a Thursday this year, we expect sales to be drawn out over Monday, Tuesday, and Wednesday, rather than the single peak seen in 2012 (when Valentine’s Day fell on a Tuesday).
Not everyone procrastinates until the last day. In fact, the pattern indicates that the most excited love birds start shopping three weeks before Valentine’s.
Jewelry and Gifts retailers who have optimized their websites for mobile devices will see the payoff as nearly 25% of visits from love-struck shoppers are expected from mobile devices (15% smartphone, 10% tablet), which is higher than the 21% mobile traffic other retailers can expect and double that seen last Valentine’s day (12%).
What do you think are the key influencers of Valentine’s shopping trends? Follow me @tyrwhite to hear more about the online shopping patterns I’m seeing.