The Business Of The Heart: Cashing In On Valentine's Day

The business of February 14th is a gold mine. Find out who’s cashing in on romance this year…
This Saturday couples the world over will become their annual excitable, emotional and (arguably) insufferable selves as Cupid is sent forth by St. Valentine to shower the globe in chocolates, jewelry and dinner reservations for two. Unsurprisingly, it is predicted that this year the total spend in the US is set to hit $18.9 billion, with the average person celebrating Valentine’s Day set to spend $142.31 on tokens of affection for their significant other.
This year’s predictions, as concluded from the National Retail Federation’s Valentine’s Day Consumer Spending Survey, show a rise in consumer spending in the name of love . The total spending figure is a survey high, providing businesses with an optimistic look at the consumer-facing business year ahead.
So where will this year’s money be going?
It is around Valentine’s Day that the jewelers of the world rub their hands in glee, and quite rightly so. The NRF found that this year one in five of Americans have plans to splash out on jewelry, bringing in a record total of $4.8 billion. On average 220,000 partners will receive a Valentine’s marriage proposal each year, and engagement rings can be up there in the big bucks.
Perhaps unsurprisingly, the increase in the popularity of online dating websites and apps has changed the way we celebrate Valentine’s Day by opening doors to a new demographic of potential partners online globally. 70% of singles say that they’re open to going on a blind date for the occasion, and with eHarmony playing host to a legion of 15.5 million singles there’s certainly plenty of opportunity for that 70% to find what they’re looking for.
Apps such as Tinder are sure to be having a busy time come Saturday. Launched in 2012, Tinder created 50 million matches in its first six months, and is sure to be a front-runner for singletons in the younger demographic looking for a casual date in celebration of St Valentine. With statistics showing 49% of online daters to be looking mainly for physical attractiveness in a partner, Tinder’s success is unsurprising and will undoubtedly be a go-to for singletons this weekend and beyond.
Whilst these record-high expenditure figures are encouraging, there are still those among us who eschew St. Valentine with a firm hand, and not only the singletons among us. Non-believers in the authenticity of V Day have been heard to refer to it as Singles Awareness Day and Hallmark Day, a nod to the commercial ‘business’ side of showing your significant other that you truly care, and that you care even more on February 14th.
So how can you cash in on Valentine’s Day this year?
There’s no denying that February 14th is a big date in the business calendar. Whilst those who celebrate are wrapping their gifts and composing sweet nothings to go with their dozen red roses, your business can do a few things to be in with the chance of a slice of the Valentine’s revenue pie.
Share the love! There’s sure to be a surge in Valentine’s related search engine searches as the weekend approaches; get your brand name on there by throwing your own Valentine’s promotion. Even if your product isn’t targeting the couples at the end of Cupid’s bow, you can share the love with your customers and boost your positioning in the search engine rankings. A little SEO boost never hurt any business, and giving your customers the chance to grab a bargain is well within the spirit of the day.
Be sure to send out a few well-worded Valentine’s Day Tweets, aimed at both those who will be partaking in celebrations and those who are firmly against the idea. These should push your ‘sweetheart’ offers, and I’m willing to bet #ValentinesDay will get your messages a little publicity. A few well-placed hashtags will work wonders on themed days.