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Well, it's that day again. Valentine's Day is here yet again to the delight of retailers everywhere. No wonder, when online sales in the US and the UK have continued to rise year-over-year in the run up to Valentine’s Day and retailers have had to learn to scale for seasonal surges.
The folks over at Rakuten, the online marketplace that's quickly catching up to Amazon and eBay, shared a few stats and a lovely infographic (don't say we didn't give you anything for Valentine's!) detailing the global spending trends surrounding this love-sick holiday.
According to Rakuten, US shoppers plan high end purchases in advance with a peak in jewelry sales on February 3rd compared to February 8th in the UK. Though this could be more of an indication of the speed of the US postal service, the top five purchases on Rakuten.com leading up to Valentine's were all pieces of jewelry, especially engagement rings. With 10% of proposals falling on Valentine's, this would make some sort of sense and is not an unusual trend.
What is interesting is how much US consumers spend on their pets for Valentine's. Some would estimate thousands but actually it's over $300 million that is spent on our furry friends. $367 million in fact. Also 15% of americans buy themselves flowers. I like that we're feeling the love for ourselves AND our pets.
With spending ranging from $271 per person in Asia down to $92 per person in Germany, there is a lot of money up for grabs for the crafty online retailer. Here are a few more stats for you. It's a gift that keeps on giving.