BANGKOK (The Nation Thailand/ANN): Recognising that 90% of couples tend to leave buying a gift for their loved one until the last minute, the 1 Insight and CRC VoiceShare are highlighting the top 10 perennially best-selling gifts to help retailers boost their sales in the run-up to Valentine’s Day, which falls on Wednesday (Feb 14).
They also recommend that shopping malls and restaurants, the two most popular locations for Valentine's Day celebrations, engage in effective communication that resonates with these last-minute lovers.
From the spending data of 2023, The 1 Insight has disclosed the top 10 most popular gifts that experienced remarkable growth in sales during the period leading up to Valentine's Day last year, noting that these trends exhibit a consistent pattern across every year.
(Roses: +400%; Teddy Bears: +180%; Jewellery: +95%; Watches: +59%; Perfumes: +50%; Chocolates: +47%; Lipsticks: +29%; Lingerie: +17%; Handbags: +12%; Wine: +8%)
For its part, CRC VoiceShare summarised three aspects of Valentine's gift spending behaviour - Timeframe: Overall, couples tend to make preparations in a relatively close timeframe.
This aligns with the "Last-Minute Lovers" trend observed globally. Specifically, 30% of survey respondents buy gifts just one day before Valentine's Day, 60% buy one week in advance, 8% buy 1-6 months in advance, and 2% buy more than 6 months in advance.
Budget Planning for Valentine's Gifts: More than 36% plan to spend between 500–1,000 baht on Valentine's gifts, 33% plan to allocate a budget between 1,000–3,000 baht, and 21% have budgeted 3,000 baht or more.
Location: Over 85% prefer to shop for Valentine's gifts at malls due to convenience and the ability to receive products immediately. The remaining 15% opt for online and various e-commerce and social media channels.
Other behavioural insights: More than 30% highly value Valentine's Day. Popular couple activities include dining out, shopping at malls, and gift-giving. 42% prefer Japanese restaurants, 27% choose Thai restaurants, particularly popular among Baby Boomers, and 10% favour Italian restaurants, especially popular among Gen Z. - The Nation Thailand/ANN
