Valentine’s Day is the biggest and busiest of days for all ecommerce industry. While many online merchants are restocking their inventory that was emptied after the holiday season, we do need to keep in mind we have just come across another major ecommerce holiday. In the present article we will look at the Valentine’s Day Stats on ecommerce.
The growth in ecommerce sales during Valentine’s eve has become a key revenue provider for online retailers. With the rise in numbers of more and more shoppers who prefer to buy gifts for Valentine’s Day online, merchants cannot overlook this holiday. Here are some noticeable ways to study the Valentine’s Day stats in ecommerce.
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To my understanding, Pareto Principle (the 80-20 rule) plays a very important role in creating the Valentine’s Day stats. It states that 80% of your sales is derived from 20% of your clients. Ecommerce industries tailor their website to fit the Valentine’s Day theme to capture the consumer.
Their products are categorically laid in front so that you can purchase their products easily. A lot of care and planning is put into the Valentine’s Day landing page of every company. Keeping the hot sellers at the top will help you make a choice. The mostly used red and white Valentine’s Day theme does make a very captivating landing page.
Like every other holiday, Valentine’s Day does affect the marketing strategy of ecommerce industries. Every ecommerce company, whether they are doing email marketing or mobile marketing or putting more emphasis on social media, do tailor their marketing strategy so that it best fits the day and the purpose of the consumer.
To stay ahead of the curve and to generate leads marketers implement email marketing a week or two before Valentine’s Day. The Valentine’s Day stats show an increase of 21% on sales last year in ecommerce. It is to be noted that their email marketing efforts don’t go unnoticed.
Ecommerce Valentine’s Day Stats
Social media is also taped by marketers to obtain leads. The Valentine’s Day stats for the week show an increase in the ecommerce related ads on social media. Shoppers referred from social media sites like Pinterest which averaged at $147.74 per order.
After all the cake and balloons, this is what it comes down to. Online sales grew 8% on Valentine’s Day between 2011 and 2013. An increase of sales is seen in categories like gifts, clothing, health and beauty products. In the data that was collected on Valentine’s Day 2011 from over 500 million online shopping stores showed that the marketers gained $35.3 million in incremental revenue while experiencing an 11% increase in the average order value during the week leading up to Valentine’s Day. The total conversion increased by 24%.
Social media also affected the Valentine’s Day stats in terms of revenue, as shoppers referred from Facebook averaged at $125.24 per order.
One example of sales I can think of is the Singles’ Day that is celebrated in China. It’s a celebration which is a kind of anti-Valentine’s day, during which Chinese people purchase gifts for themselves. Singles’ Day enabled the Chinese ecommerce giant, Alibaba, to hit record sales which amounted to $9,000m in 24 hours.
According to a the Valentine’s Day stats 2011, a study conducted by CT News which was featured on Business Insider, 53% of American women dump their boyfriends in case the latter failed to buy them gifts. Most of the online stores by provide complimentary gift-wrapping, guaranteed/fast shipping, flash sale/coupons or last-minute discounts. This works in their favor in terms of customer retention.
Even though we do see a high rise in sales, a brand new landing page, discounts and innovative marketing, we also see the following cons:
1. Delivery times get extended due to saturation of logistics along with transport infrastructures at the peak time of online sales.
2. Packages damaged or lost.
3. Delays coupled with poor customer service triggered by a number of factors.