From Valentine's to Valentines: How Brazilian e-commerces can take advantage of International Retailers' Valentine's Day to sell more
Unlike Brazil, which is in a festive mood, the world is filled with romance during the month of February. And there's room for everyone in international Valentine's Day retail! From passionate consumers looking for gifts that help express their love, to single men and women who take advantage of the date to celebrate friendships and strengthen self-love.
In the United States, Valentine's Day 2024 promises to be a significant commercial event. Consumers plan to spend a total of US$25.8 billion, according to research by the NRF (National Retail Federation) and Prosper Insights & Analytics. This figure represents an average ticket of approximately US$186 per person.
In Brazil, it's still too early to talk about Valentine's Day, but the date also significantly boosts online sales here. According to a 2022 survey, NeoTrust reported revenues of R$6.5 billion from online sales motivated by Valentine's Day, in the period from May 28 to June 11 of that year.
Although national consumption is moving at a slower pace compared to Valentine's Day in the United States, the Brazilian seller is faced with a vast scenario of growth possibilities for this date.
Here are some strategies for taking advantage of Valentine's Day in international retail and boosting your sales.
Most Popular Products for Valentine's Day at International Retailers
In both the US and Brazil, classic gifts such as candles, jewelry and perfume continue to be popular.
The jewelry segment is the most representative when it comes to Valentine's Day shopping. We're talking about a market worth 6.4 billion dollars, according to the NRF's annual survey.
The product's average ticket must be taken into account, as these are items with a high added value.
On this date, it is also common to give clothingand that's why the segment ranks third among the best-selling product categories on Valentine's Day.
This segment, which represents a US$ 3 billion market on this commemorative date, is also the largest representative of cross-border e-commerce in Brazil.
Gifting beyond the romantic partner
There is a growing trend on Valentine's Day to give gifts to people other than significant others. This means that the American consumer's shopping list also includes friends, work colleagues and even pets!
These new categories of giftees may not make up the total turnover, but they account for 45% of Valentine's Day purchases in International Retail. As a result, the forecast for spending on romantic partners stands at 14.2 billion - 55% of the total turnover on the date.
Selling on national and international Valentine's Day
The biggest opportunity to increase Valentine's Day sales lies in reaching international consumers. In particular, those who are willing to invest US$186 in buying a gift for Valentine's Day. In today's conversion, we're talking about an average ticket of almost R$1000!
By expanding into the international market, the Brazilian seller can take advantage of the growing demand for unique gifts during Valentine's Day, but it can also include some adjustments. Whether it's adapting products to suit US consumers, or optimizing the shopping experience in your online store.
However, these are adaptations that can be clicks away, especially when we talk about international marketplaces such as Amazon and eBay, for example.
Finally, by providing an exceptional shopping experience tailored to the needs of Brazilian and American consumers, retailers can maximize their sales opportunities during Valentine's Day in not just one, but two months of the year!
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