According to Fortune.com, $19.7 billion was spent on Valentine’s Day in 2016. This was a record setting amount. Although overall sales are expected to decrease in 2017 the market of e-commerce is subject to hold steady. Last year online sales for Valentine’s Day topped out at just over 28% of the market. As the trend of online shopping grows we are seeing more and more consumers turning to the web to fulfill their purchases.
As the first major holiday of the year, the amount spent on Valentine’s Day can provide a good insight into the economy. Valentine’s creates a huge opportunity for brands to capitalize sales on a day that is ranked right behind Christmas and Mother’s Day respectively in spending. Traditionally consumers would flock to their closest brick and mortar store to buy their loved one a gift. As we move through a tech era we are seeing a shift in buying patterns. Since 2001 brick-and-mortar florists have seen a decline close to 40 percent of sales. Comparatively online floral shops have seen a growth of more than 6 percent in the past five years. Peak sales days for online shopping have been trending between February 7th and 11th depending on delivery times. Online retailers have been pushing out promotions to persuade consumers to make their purchases early and in time for the big day. These tactics have proved to be a factor in guiding online sales in the upward direction. According to Fortune.com even though there is a projected dip in overall sales for this gift-giving holiday, the online market is still growing strong.
So what does this mean for those who run an e-commerce business? As your business and demand grow your time shrinks. As your time shrinks mistakes often increase. StreamTech has a solution to level the playing field; The Sprinter. Increasing productivity, reducing direct labor, and eliminating the need for manual, dedicated carrier shipping stations, Sprinter is your one stop shop. If you are looking for a way to optimize your business check out what our Sprinter has to offer.