Market data points to growth in sales in physical retail and e-commerce on Valentine’s Day. According to information from the Cielo Expanded Retail Index (ICVA), which analyzed the period between June 6 and 12, there was a 15.5% increase in e-commerce compared to last year. In-person stores reached a positive mark of 4.1%.
The forecast is that more growth data will emerge in the coming months, as pointed out by the Brazilian Association of Electronic Commerce (ABComm), which since 2018 has been monitoring the progression of the date’s revenue and should close 2024 with more than R$ 7.04 billion in revenue gross.
“As indicated in research, Valentine’s Day brought a positive balance to e-commerce and opens the doors to the next big retail dates, such as Father’s Day, Children’s Day, Black Friday and Christmas. Therefore, it is important that retailers invest in effective strategies to attract the attention of their consumers. One of the approaches we recommend is retail media, which allows the creation of personalized advertisements within e-commerce pages, with the aim of suggesting products that may interest the consumer and, at the same time, generating additional revenue for the brand”, he explains. Eduardo Esparza, VP General Manager of Tenerity in Iberia and Brazil, a leading international engagement company that increases the value of the relationship between companies and their consumers.
Photo: Disclosure/ICVA
Benefits on the rise
Data collected by ABEMF (Brazilian Association of Loyalty Market Companies), in 2023, shows that 80% of customers prefer to make their purchases in stores that offer some type of benefit. This percentage represents an 18% growth compared to the previous year and shows a change in consumer behavior, especially in e-commerce.
“Benefits programs are an opportunity to bring consumers closer to the brand, with greater encouragement to purchase and return for new operations. The idea is that customers stay not just because of a promotion, but because of the perception that buying from a certain store is always an advantage. The research only confirms that this preference is increasingly consolidated”, explains Esparza, who is also in charge of the ‘Compra e Volta’ benefits program in Brazil.
Cross-marketplace advertising
Data from the Cielo Expanded Retail Index (ICVA) also highlighted the segments that stood out most during this Valentine’s Day period: opticians and jewelry stores (+19.1%); furniture, appliances and departments (+12.3%); cosmetics and personal hygiene (+9.6%); tourism and transport (+6.5%); supermarkets and Hypermarkets (+5.0%) and Specialized Food Retail (+4.3%). Regarding this information, Tenerity’s VP General Manager highlights the importance of generating intelligent, targeted and related campaigns between the products most demanded by consumers.
“With information about the most desired products in each season, it is possible to advertise items focused on the customer. This increases consumer engagement when searching for offers and, at the same time, generates extra income for retailers. For this to work, it is important that market leaders plan as soon as possible”, concludes Esparza.
*Head photo: iStock
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