Author: Serena Berrey | Editor: Elizabeth Zuponcic
When the 14th of February comes around, the popular way to prepare is to gather your sweeties, pick those flowers, collect the chocolates and candy, and sign those x’s and o’s. But this year we want to encourage you to consider adding another aspect to your Valentine’s Day preparation: market research. Market research is creating perfect gift experiences for people around the world. You might be thinking we are crazy; that market research has nothing to do with Valentine’s Day, but Cupid himself might just be asking you to reconsider.
What do Valentine’s Day and market research have to do with each other? The answer is simple—love. Valentine’s Day is, quite simply, the celebration of love; and market research analyzes data to find trends and feedback of what consumers love. Valentine’s Day is about expressing love for each other, but it heavily involves deciding which products you will choose to gift to convey that love. Although this day is traditionally celebrated by exchanging gifts, chocolates, cards, candies and romantic escapades, we dove into a Valentine’s Day Market Research Study to see how people decide to purchase and remain loyal to the brands they buy from on this holiday.
Cupid and Qualitative Research
Market research plays a critical role in helping companies target the right consumers for holiday events. Of those polled in a 2022 “Valentine’s Day Around the World” market research study, over 55% of people worldwide celebrate this holiday . In the United States specifically, 75% of people celebrate Valentine’s Day in some capacity (IPSOS). With such an advantageous opportunity to make an impact on consumers, data is needed to cultivate effective marketing strategies. Market research allows companies to understand their consumers’ preferences, buying habits, and what they look for in gifts and romantic gestures. This information can help companies to create products and experiences that are more likely to appeal to their consumers, making it easier to sell their products during this busy holiday season.
CavinCare’s Buds and Berries Sustainable Valentine’s Day case study is a great example of how market research can drive success for companies. In 2022, after doing a market research study of their own, The Buds and Berries brand recovered findings that would benefit their consumers. They found that there was a growing demand for sustainable Valentine’s Day gifts and responded by creating a range of eco-friendly and sustainable products that were appealing to their consumers. Buds and Berries “focused on educating their demographic about the core brand proposition of being toxin-free through the self-love narrative” surrounding Valentine’s Day Season! Gift-giving is an act of generosity, but choosing a toxin-free and environmentally-friendly gift takes it one step further. This market research campaign resulted in their sales increasing and were able to establish a loyal consumer base, demonstrating the power of market research in driving success on Valentine’s Day.
The study found that gift recipients were looking for the type of perfect gift experiences that not only served a practical purpose, but also represented an investment in their future and a commitment to sustainability. To consumers, these gifts are not just objects, but a symbol of love, concern, and thoughtfulness, making them more meaningful and memorable to the recipient. In an article titled “Unpacking the Psychology of Gift-Giving,” by the New York Times, studies showed the most effective way to decide what gift you should give is by asking yourself “what do I want to say here with this gift?”
Romantic and Relevant
Market research is crucial to holidays, like Valentine’s Day, because it helps companies understand the current trends and what consumers are looking for in gifts and romantic gestures. This information helps companies to tailor their products to the current market demands, ensuring that their offerings are relevant and appealing to consumers. This leads to increased sales and consumer satisfaction, which can help companies to build a strong reputation and establish a loyal consumer base. By understanding their consumers’ preferences, buying habits, and what they look for in gifts and romantic gestures, companies can create products and experiences that are more likely to appeal to them. This information can help companies to design and market their offerings in a way that resonates with consumers, making it easier to sell their products during the busy Valentine’s Day season.
Are you in love with market research yet?! This creative Valentine’s Day market research case study shows how essential market research can be used as a tool for companies looking to succeed in their every day and special-occasion campaigning. By understanding consumers’ preferences and buying habits, companies can create products and experiences that are more likely to appeal to the consumer and create the perfect gift experiences for them. The Buds and Berries sustainable Valentine’s Day case study is a great example of how market research can drive success, helping companies to establish a strong reputation and build a loyal consumer base.
At Focus Insite, we specialize in providing businesses with qualitative research services. We offer a range of services, including qualitative market research recruitment, moderation, transcription and translation, and more. By working with Focus Insite, we can help you gain access to valuable insights and perspectives from your target market, which will help you make informed decisions and stay ahead in a competitive market. For more information, contact bids@focusinsite.com today.
