Now that Christmas is done and dusted, Valentine’s Day is on the mind of retailers across the country. Whether you’re a soft-hearted romantic or a sceptic, there’s no denying that Valentine’s Day is a real money-maker. In fact, in 2017, Finder.com.au found that Aussies who were married in the last five years spent a whopping $253 million on gifts for their significant others. This makes February 14th one of the country’s most profitable holidays.
Based on last year’s expenditure, men are expected to spend $119 more on gifts for their partners than women, allotting an average of $386 towards romantic gifts, while women have an average expenditure of $267. Although, this figure jumps significantly in Victoria, the highest spending state, with an average spend of $483 per person.
To put these figures into perspective, last month, the average Australian spent $539 on Christmas gifts. Even though this figure is higher, Christmas gifts are usually bought for multiple people, while Valentine’s Day expenditure is mostly directed at just one gift recipient.
It’s also worth noting that Gen Yers are slated to spend 33 per cent more than Gen Xers, so targeting your stock at 20 and 30-somethings is definitely the way to go!
So, it’s time to do some serious Valentine’s Day ordering, but what do you need?
Sure, flowers and chocolates are among some of the most obvious gifts, but consumers are also spending big on everything from foil balloons to stuffed animals. No one ever said Valentine’s was a sensible holiday; in fact, it’s the one-day of the year where the cornier a gift is, the better!
Love Bell Key Rings are another great gift option to have on-hand, and will work wonderfully as an add-on on sale at your register.
Need help selecting your gift stock and quantities? Talk to Dormar Indents today, we’ll get your stock needs sorted in no time!This entry was posted in Seasonal | .