Christmas presents packed away, Dry January over and before we know it, Valentine’s Day is upon us. An ideal romantic event for independent jewellery retailers to use to promote thoughtful and personalised gifts that say “I love you”, this can mean selling anything from a silver charm to a diamond ring or luxury watch.
Of course, Valentine’s Day celebrations aren’t for everyone. According to YouGov, around a third of Britons (36%) will celebrate Valentine’s Day this year while a further third (33%) say they’ve celebrated Valentine’s Day before but will skip this year. Nearly three in ten (28%) say they haven’t celebrated it before and this year will be no exception.
But for that 36% of consumers that are going to embrace 14 February this year, independent jewellery retailers will want to fight for their share of the spend.
How to compete with multiple retailers at Valentine’s Day
In our Multiples Reports, which are distributed exclusively to CMJ retailer members, we analyse multiple retailers’ activity around key seasonal events to predict what marketing activities they will implement, so that our members are armed to compete. This includes predictions around Valentine’s Day promotions – including expected sale items, partnerships and competitions.
We also produce an annual CMJ Multiples Report, which summarises multiples’ activity for the full previous year. Our recent Review of 2024 predicts that in 2025, “with Easter falling close to a month behind 2024, key calendar dates such as Mother’s Day, Valentine’s Day and Easter will all receive equal campaign attention.” We also expect to see promotions on diamonds and “meaningful” jewellery ahead of Valentine’s and Mother’s Day, with an emphasis on lab-grown diamond collections too.
We have created a free sample version of our most recent Multiples Report to provide a snapshot of the expert insight exclusively available to CMJ retailer members.
What about anti-Valentine’s Day?
And Valentine’s Day marketing doesn’t just have to be to the loved-up couples. Retailers can also tap into the singles market by celebrating friendship and self-purchasing. Last year, 62% of 16-34-year-olds bought something for themselves for Valentine’s Day according to Mintel.
Mintel’s UK Valentine’s Day Market Report 2024 went on to state that: “Just as initiatives like Green Friday have sparked creativity and are slowly reshaping how consumers view events like Black Friday, anti-Valentine’s Day movements, such as Galentine’s Day and Single’s Awareness Day, celebrated a day after, are gaining momentum and influencing how people celebrate the day.
“Retailers should also extend this inclusive approach to single-person households. Retailers like Boots have integrated self-care messaging into their Valentine’s Day campaigns, recognising the growing trend towards self-love and personal wellbeing. By showcasing products that promote pampering and self-indulgence, retailers can tap into a broader consumer desire for holistic celebration beyond traditional romantic gestures.”
How does the CMJ support its members ahead of Valentine’s Day?
As well as issuing our regular Multiples Reports to arm retailers with insights on their competition, we provide free point-of-sale material for them to promote themselves to consumers both in store and online. We also have a range of approved suppliers offering gifts perfect for 14 February that cover all price points, whether customers are looking for silver, personalisation, coloured stones or are planning to pop the question.
