Historically, the celebration of the Day of Love and Friendship implies a great economic benefit for industries, since brands take advantage of stationary marketing to offer their products or services to those who seek to give gifts and show their affection to their loved ones.
According to a survey of the Mexican Association of Online Sales (AMVO)63 percent of Mexicans celebrated the date in 2021.
According to Daniela Mijares, Executive President of the National Chamber of Restaurants and Seasoned Foods during the panel “The Day of Love and Friendship in Numbers” held by the Communication Council, 8 out of 10 inhabitants of Mexico City and its metropolitan area, Guadalajara and Monterrey celebrates love on this date.
Likewise, 67 percent of people plan to spend 300 pesos at this time, which makes Mexico a country that stands out from others such as the United States and Canada, where 2 percent show willingness to spend that amount.
With the pandemic, Mexicans adopted new consumption habits from home and probably, with the pandemic still latent, they will continue. According to Kantarin 2021 it was estimated that 40 percent celebrated with dinner, lunch and breakfast inside the house, and 32 percent enjoyed movies for streaming.
Did the pandemic invite you to celebrate the Day of Love and Friendship in another way?
The meetings and moments to share face-to-face were reduced and the way of showing affection passed to virtual messages and gifts, which gave a new twist in which brands must position themselves.
According to the Rebold agency in Mexico – a company focused on data analysis – romantic dinners are not the subject of greatest interest in online searches, but the most important point is how to express feelings with images, phrases, drawings , etc.
“We found that it is not gifts or objects that determine the conversation at this time, but rather more intangible and less material ways such as expressing feelings through images or phrases,” said Alberto Moreno, commercial director of Rebold.
There is a trend in his analysis: in 2022 sentimental value is above gifts of economic value
However, people are eager to go out on the streets again, to dine, to dance, to share, since the sanitary restrictions have been eased. This, despite the fact that since the beginning of January, the National Alliance of Small Merchants (ANPEC) announced the increase in prices, a situation that complicates the economic life of Mexicans and the Omicron variant of Covid-19 still persists in the streets.
The benefit for the chocolate, restaurant and jewelry industry
For the Mexican chocolate industry, the winter season, which begins in December and ends with the great day of love, is the most important.
When specifying how many sales there are on February 14, Alicia Páramo, General Director of ASCHOCO said in the panel of “The Day of Love and Friendship in Numbers” carried out by the Communication Council, which sells 40 million boxes throughout the world during the season.
According to the chocolate leader, Mexico ranks 13th in world production and 0.5 percent of total world consumption.
Another of the benefited industries is that of restaurants, since in Mexico City, 98 percent of the inhabitants between 22 and 40 years old will celebrate with their respective partners and 25 percent prefer to celebrate eating somewhere.
For this 2022, it is expected that there will be a growth of over 40 percent compared to 2021, which translates into an average ticket of 500 pesos in restaurants and an economic spill of 1,400 million pesos this weekend in the that in addition the people who go to these establishments to see the Super Bowl will be added.
Regarding the jewelry sector, Álvaro Azpeitia, President of the Regional Chamber of the Jewelry and Silver Industry of Jalisco announced that the most gifted on this date are engagement rings. He noted that in 2021 diamond ring sales quadrupled compared to 2020 sales.
This piece has an average cost of between 5,000 and 30,000 pesos, and many people also buy them as a form of investment because of the market value of both gold and diamonds. He commented that February 14 represents 20% of annual sales for the jewelry sector. He also pointed out that this industry employs around 70 thousand people nationwide, where 70% are women. The sector will close this year with a global growth of 4%.
The changes in consumption habits were just that; consumption persisted and couples and friends will not stop celebrating. In that sense, the sectors continue to win; however, industries had to adapt to the landscape with creativity, innovation and technology.
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