Dia dos Namorados 2024
/ Published in Uncategorized

Love and Economics: The Impact of Valentine’s Day 2024 on Brazilian Commerce

Ecglobal Study Reveals Consumer Trends and Preferences on Valentine’s Day 2024, Drawing a Detailed Portrait of Choices and Behaviors During This Special Date.

Valentine’s Day in Brazil, celebrated on June 12th, has a significant impact on Brazilian commerce, being one of the most profitable dates of the year, second only to Christmas and Mother’s Day. Sales are driven by various sectors including apparel and accessories, perfumes and cosmetics, jewelry and watches, electronics, flowers and chocolates, restaurants and hotels, as well as online commerce, which offers specific promotions for the occasion.

To understand how the most romantic night of the year is experienced in Brazil, we conducted a quantitative study from April 30th to May 21st, 2024, using a structured online questionnaire that garnered 1,000 responses from members of the ecglobal.com network. Respondents predominantly included men and women aged 25 to 64, spanning all regions of Brazil and representing socio-economic classes A, B, and C.

Intentions for Celebrating Valentine’s Day 2024

Celebrating Valentine’s Day is a tradition that brings various benefits and reasons to be celebrated. Besides being a commercial date, it is a valuable opportunity for couples to nurture and celebrate love in their lives.

We asked participants about their likelihood of celebrating the romantic occasion in 2024. The data indicates that the majority of respondents (82%) have a high intention to celebrate Valentine’s Day, with 54% stating categorically that they will celebrate and 28% indicating they probably will. On the other hand, 12% responded that they probably will not celebrate and 6% are undecided. This demonstrates the continued importance of the date in the lives of Brazilians and suggests a significant impact on commerce, especially in sectors related to gifts and romantic experiences.”

Valentine’s Day Traditions 2024

Investigating Valentine’s Day Traditions in 2024 reveals significant opportunities for brands to understand and strengthen the emotional and cultural bonds associated with this special date.

Nearly 3 in 10 respondents reported not having a specific tradition related to the date. However, many of these participants mentioned the custom of giving gifts or spending the day with their partner. This discovery offers an opportunity for brands to reinforce these actions as traditions, contributing to highlighting the emotional and cultural aspects of Valentine’s Day.

Additionally, the word “dinner” was mentioned 277 times among participants, suggesting that special meals are a common and meaningful practice during celebrations.

“(…) we decided to celebrate at home with a special dinner and then we went out to dinner at a restaurant that is not part of our daily routine.” Woman, 63 years old, Porto Alegre.

The Search for the Perfect Gift

In addition to shared love, the tradition of exchanging gifts is a common practice in many cultures during Valentine’s Day. To understand preferences and gift trends on this special day, we asked participants: “How do you prefer to give gifts on Valentine’s Day?”

The results revealed a variety of approaches: 62% indicated they prefer to give both products and memorable experiences, 17% exclusively opt for memorable experiences, 14% choose to gift only products, and 7% of respondents said they do not have a clear preference.

As for preferred experiences to celebrate Valentine’s Day in 2024, the most sought-after experience is having a special meal.

Additionally, we investigated which products participants intend to gift during the occasion in 2024. The results reveal that Beauty and Perfumery lead preferences (66%), followed by clothing (53%), fashion accessories (39%), shoes (33%), and jewelry (30%). This reflects the intention to gift items that convey care and style, regardless of the occasion.

Additionally, 79% of respondents share the opinion that personalized gifts, such as jewelry with engraved names and handmade items, carry deeper meaning when celebrating Valentine’s Day 2024. This preference for personalized gifts reflects the desire to make the occasion even more special and unique for their partners.

The Influence of Technology

As Valentine’s Day 2024 approaches, the use of artificial intelligence in the search for the ideal gift becomes increasingly relevant. According to our research, 51% of respondents plan to use Artificial Intelligence to find the perfect gift. The ways they intend to incorporate this technology into their shopping include creating personalized videos, asking for gift suggestions, and comparing prices, making the selection process more creative and efficient.

When asked how they learn about offers for the celebration, 53% of participants mentioned ads on social media, followed by 48% indicating physical stores and 39% receiving information through store emails. Additionally, other channels of promotion such as price comparison websites, brand apps, and searching on Google or other search engines were also mentioned, demonstrating the diversity of ways consumers inform themselves about promotions for this special date.

Buying Behavior and Preferences

To understand how consumers plan to make their purchases for Valentine’s Day 2024, we asked about their shopping preferences. We obtained the following responses: 49% of respondents plan to buy both online and in physical stores, 27% will opt for exclusively online purchases, and 14% prefer to buy only in physical stores.

Furthermore, when considering the timing of gift purchases, the majority of participants emphasized the importance of quality (72%), followed by cost-effectiveness (63%) and shipping costs and low prices (33%). These data indicate that while the convenience of online shopping is significant, many consumers still value the physical shopping experience and the opportunity to personally assess the quality of products.

Regarding purchasing habits, 48% of respondents stated they track gift prices more than two weeks before the date. This early planning suggests a concern for finding the best deals and ensuring that chosen gifts fit within the planned budget. Additionally, about 53% of respondents indicated they intend to spend between R$100 and R$300 on gifts for Valentine’s Day 2024.

Top Brands for the Occasion

In the context of Valentine’s Day 2024, brands play a crucial role in creating meaningful experiences for consumers. When it comes to this special date, the association with certain brands can significantly influence purchasing decisions. Thinking about Valentine’s Day 2024, 32% of respondents mentioned O Boticário, highlighting the strong presence and recognition of this brand in this context. Other notable brands include Cacau Show, mentioned by 15% of respondents, followed by Natura, with 13% of mentions. Renner is also mentioned, with 3% of responses.

Consumers are expecting brands to offer a personalized experience for Valentine’s Day 2024, preparing special offers and gifts that not only drive purchases but also provide a unique sense of attention and care.

After making a purchase, consumers highlight delivery time as the most important service, with 66% mentioning its significance. Following that, 41% of consumers value discounts on new products, while 37% appreciate offers of gifts and free samples. Additionally, other cited services include loyalty programs, company support, and others.

Understanding and meeting consumer needs is crucial for any brand looking to stand out and thrive. It’s essential to go beyond mere commercial transactions and cultivate a genuine relationship with customers.

With this in mind, brands should adopt approaches that transcend purely commercial aspects, subtly highlighting the tradition of gift-giving and the emotional and cultural value associated with it. This involves providing memorable experiences, personalizing offers and services to meet each customer’s individual needs, and ensuring quality post-sales and delivery services that enhance the consumer experience.

Implementing these strategies can strengthen brands’ connection with customers, promoting loyalty and satisfaction. Learn how to use communities and research to listen and connect, creating more assertive, agile, and cost-effective business strategies. Talk to our experts and discover how we can help drive your success.

 

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