A New Look at Valentine's Day
Roses, chocolates, and jewelry remain staples of Valentine’s Day—a market where U.S. consumers alone will spend an estimated $26 billion this year. But new opportunities have emerged in this space.
Instead of focusing on gifts for loved ones, many companies in the industry have also begun offering products geared towards self-care and personal wellness.
Young Americans are enjoying Valentine's Day with friends, taking care of themselves, and calling this day Galentine's, based on a famous sitcom - Photo: Always The Holidays
More and more brands are adapting their assortments and marketing techniques to match these changing consumer trends. And companies that may not have previously been part of the holiday gift conversation are entering the market. These businesses are all focused on providing options for a new segment of consumers who want to indulge in self-care services.
“We’re seeing some mainstream businesses starting to use a broader description of what Valentine’s Day really means,” said Joanna Feeley, founder and CEO of UK-based trend forecasting company Trend Bible. “Valentine’s Day isn’t ‘dead’ but it almost needs a rebrand.”
When the “ego” becomes the center of all emotions
Global economic, political and environmental uncertainty may be part of the shift in consumer attitudes.
“Many people feel extremely anxious about survival, so they are shifting to prioritizing themselves and leaning towards the ‘I deserve it’ mindset instead of buying gifts for others,” said Faye Landes, a consumer and retail analyst at Landes Advisors, a US-based consulting firm.
Personal health care products are on the rise this Valentine's Day - Photo: BBC
Growing social sentiment is also a big factor: many people want the holiday to feel more inclusive, acknowledging the importance of platonic relationships and gentle self-care rituals alongside gift-giving.
“There is a shift in consumers becoming more inclusive on Valentine’s Day. It’s no longer just a day for romantic relationships,” said Audrey Chee-Read, principal analyst at US-based global market research firm Forrester.
Joanna Feeley, CEO of trend forecasting firm Trend Bible, also says consumers are increasingly interested in being “me-centric.” And that’s led to a big change in the market: the emergence of the personal care category on Valentine’s Day.
Along with that are completely new activities on Valentine's Day, from celebrating single status by giving yourself your favorite foods to completely eliminating the romance and sweetness of text messages sent to your partner.
As early as 2022, a survey conducted by multinational dating platform Plenty of Fish found that 36% of 2,000 Generation Z Americans planned to spend Valentine's Day having a night of self-care or fun with friends.
Young people are continuing to lead the change. The latest survey data from Ypulse, a leading analytics firm on Generation Z and Millennials, also shows that more than a quarter of Gen Z respondents said they are likely to spend Valentine’s Day having fun with friends and will buy gifts for themselves.
Quang Anh (according to BBC)
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