Valentine's Day is a dream come true for retailers. Consumers are willing to spend large sums of money on jewelry, flowers, candy, clothing, spa visits, and fine dining to celebrate the occasion. As a marketing employee, supermarkets set up tents in the parking lots to sell flower arrangements, making it quick and easy for customers to buy last-minute gifts. Even products that are not traditionally associated with Valentine's Day may be heavily promoted during the holiday season in hopes of capturing some of the market share. For example, golf courses may set out advertisements to club members promoting a Valentine's Day golf deal. Mars, Inc. promotes a romance gift box containing personalized M&M's for this special occasion.

According to a recent study conducted by PriceGrabber, the most popular Valentine's Day purchase for 62% of female shoppers was greeting cards. Forty-two percent of female shoppers spent money on an evening out, and 26% bought candy on Valentine's Day. The most popular purchase for 53% of male shoppers was an evening out. Forty-five percent of males respondents purchased greeting cards, 45% purchased flowers, and 18% bought candy on Valentine's Day. Products in these categories are heavily advertised to remind customers of the importance of the occasion. Businesses reap the benefits as customers rush out to buy gifts, often at inflated prices. Many people argue that the romance of Valentine's Day has been damaged by mass marketing. They believe the holiday is now dominated by stores and advertisements. Because of expensive advertising campaigns, many people now feel obligated to buy expensive gifts for their loved ones. Advertising has also encouraged customers to buy gifts and cards for friends, not just for loved ones. There is no question that Valentine's Day presents market opportunities for businesses that can persuade customers to buy their products for that special someone.

Many people argue that the romance of Valentine's Day has been damaged by mass marketing. They believe the holiday is now dominated by stores and advertisements. Because of the expensive advertising campaigns, many people now feel obligated to buy expensive gifts for their loved ones. Advertising has also encouraged consumers to buy gifts and cards for friends, not just for loved ones. There is no question that Valentine's Day presents market opportunities for businesses that can persuade consumers to buy their products for that special someone.

 

Think Critically

Describe three market segments for Valentine's Day gifts. 

Explain how psychographic influences purchases for Valentine's Day. 

Why is the marketing mix important for products that are traditionally sold as gifts for holidays?

How can businesses benefit from the mass marketing of holidays?