Dive Brief:
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More than 55% of U.S. consumers will celebrate Valentine’s Day this year, spending an average of $143.56 per capita, according to the National Retail Federation and Prosper Insights & Analytics.
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More consumers plan on purchasing candy this year, with 55% percent (up from 50%) saying they will give gifts of candy totaling $1.8 billion, the survey found. Brands such as Hershey and Mars Wrigley time big product launches to coincide with the holiday.
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The survey, which asked 7,277 consumers about their Valentine’s Day plans, was conducted January 3 through January 10. It has a margin of error of plus or minus 1.1 percentage points.
Dive Insight:
Valentine’s Day is big business for food manufacturers, with candy among the most popular items.
Manufactures aren't afraid to introduce new products for Valentine's Day or repackage old ones into special shapes or with bright red, white and pink packaging to capture the hopefulness romantic. Last year, Hershey introduced Kit Kat Miniatures Red Velvet and Hershey’s Kisses White Cookie Cupcake.
In 2017, Mars Wrigley's Dove Promises lines — Silky Smooth Milk and Dark Chocolate Hearts – were among the top five selling items, according to Nielsen Data.
Mars Wrigley is also stepping up its Valentine’s marketing game this year by opening its first-ever chocolate and candy-inspired pop-up salon based in New York City. The “Sweet Retreat by Mars Wrigley Confectionary U.S.” will include manicures and pedicures, art installations, a makeup bar and more — all inspired by Mars’ products. It will also include a candy beverage bar.
Something else to look for this year is Nestle’s debut of ruby chocolate in Japan. The product features a pinkish hue and a natural berry flavor “that’s sour yet sweet.” No word yet on whether it will eventually make its way to the U.S. market.
Although chocolate tends to get the spotlight (and the expenditures) from Cupid, new data from CandyStore.com shows conversation hearts are actually the most reliable candy for the holiday in many U.S. states. The little message hearts have totaled more than 10% of Valentine’s Day sales throughout the past 10 years. Heart-shaped boxes of chocolate were a close second at 9.6%.
Increasingly, companies are embracing social media to attract consumers, especially millennials, to their Valentine's Day treats and build a long-term loyalty to the brand. Oberto created a successful Valentine’s Day campaign last year, thanks in large part to its social media strategy. According to Mediapost, the company used the Valentine’s Day occasion to introduce its very first digital campaign, featuring ESPN media personality Stephen A. Smith gifting a personalized greeting to one fan.
Then there is Sour Patch Kids, which struck a chord when it went anti-Valentine’s with its Singles Awareness Day campaign, also on Feb. 14. The brand encouraged its social media fans to tweet their romantic disaster stories. The brand’s objective was to increase awareness and the month-long campaign resulted in more than 30 million impressions. This year, the company has introduced “Reverse Cupid,” to help singles “get their friends (in relationships) back.”
With consumers going to great links to impress their loved one on Valentine's Day, and food manufacturers looking to attract consumers to their Valentine's Day products, it looks like Cupid hit his target this time around.