Titan shares consumer survey insights on Valentine’s day
Posted on: 17/Feb/2018 12:13:11 PM
It was no surprise that during Valentine’s Day businesses launched their best strategic marketing campaigns targeted at capturing both the hearts and wallets of shoppers. Titan Company, India’s leading producer and retailer of watches, jewellery and eyewear shared consumer insights gathered via their loyalty program – Titan Encircle which has a base of over 10 million customers.
The data report said that Valentine’s Day has become a major shopping event over the past few years and Titan is seeing a steady growth in customers across years. Although there is a high competition during Valentine`s Day, retailers and organizations are hoping to win big. Data suggests that there is an increase in customers 2 days prior to Valentine`s Day and nearly 80% of the customers resort to last minute shopping like buying on Valentine`s Day itself.
Mr. Kuruvilla Markose, Chief Digital Officer, Titan Company Limited said, “There is a change in the way Indians shop during Valentine’s Day and we have seen new trends in last few years. Spontaneous purchase of gifts across our categories has seen a big rise amongst young consumers as they have easier access to online platforms, online marketplaces etc. This has helped us, as India’s leading retailer to sell products and select relevant channels to make shopping a memorable experience on the eve of Valentine’s Day”.
In order to gather major results from Valentine’s Day, it’s important for companies to understand the buying behaviour of those celebrating this special day with their significant other. Without a thorough grasp on consumer spending trends, any marketing approach lacks the ability to be shaped to each specific audience. Demographics, lifestyle patterns, social patterns and economic conditions have contributed to the shift of consumer`s attitudes. Men buy more gifts than women, true to all segments. According to the data from Titan, there is a clear increase in Valentine’s shopping in the younger generation. Most common gifts include confectionery, flowers, accessories and jewellery, clothing and greeting cards.
