Ditch the discount codes. Drive profitable growth with CashBack.
Valentine's Day is no longer just a popular day for couples worldwide. The holiday has quickly become a prominent celebration (and discounting opportunity) for just about everyone — spanning Valentine's Day for single women, coworkers, friends, colleagues, and more.
After the holiday season stretching from BFCM to Christmas, Valentine's Day is the highest-spending holiday of the year, with a total expected expenditure of $26 billion in the US alone. Given the magnitude of this opportunity to deploy strategic discounts, our team at Fondue pulled together a handful of ideas on how to make your offers stand out from the crowd.
Whether your goal is getting shoppers to purchase or sign up for your email and SMS lists, here are five Valentine's Day discount ideas guaranteed to convert in February 2024.
One of the more traditional holiday discounts, multi-buy offers (i.e., 2 for the price of 1), permit your customers to purchase one item for a discounted rate when they buy another item of the same type. For Valentine's Day, this type of offer encourages shoppers to share their experience with a loved friend, friend, or family member – while also driving a notable conversion increase.
Ticketmaster ran an excellent multi-buy campaign for Valentine's Day where couples could purchase tickets to see shows including Daryl Hall & John Oates and Train, Shania Twain, Charlie Puth, Niall Horan, Rod Stewart, and even a "Game of Thrones" Live Concert Experience.
As its name would imply, BOGO offers shoppers a free product when another product of the same or higher value is purchased. Similar to multi-buy offers, BOGO makes it easier for couples, friends, and colleagues to enjoy their Valentine's Day experiences together without breaking the bank.
Restaurants, cafés, and F&B brands often deploy BOGO discounts during Valentine's Day. As coffee lovers, we can't get enough of BIGGBY COFFEE's annual BOGO deals.
Product bundling is an offer type where brands package complimentary products as a group of items that can be purchased together. While product bundling is deployed across several holidays, brands have a great opportunity to get creative with their Valentine's Day bundles.
For example, Dirty Cookie – a national premium cookie brand – created a Valentine's Day bundle consisting of premium filled cookies and cookie shot glasses for two. With no baking required and less guilt than eating a heart-shaped box of chocolates, Dirty Cookie is doing Valentine's Day right with this limited-time bundle.
Similar to product bundles, gift sets are a collection of products packaged together for individual sale as a gift. The key difference between product bundles and gift sets is that gift sets are pre-packaged and ready for instant gifting. In contrast, bundles offer various options for the shopper to choose from before being wrapped and shipped to their doorstep.
Harry & David – a renowned gourmet gift shop – created a Valentine's Day charcuterie set, complete with a variety of wines, cheeses, sea salt crackers, preserves, and even a heart-shaped cutting board. For its target audience of folks who love savory flavors, this Valentine's Day gift set is right up their alley.
Last but not least, CashBack discounts offer customers either a percentage or dollar amount back after completing a purchase. At Fondue, we help brands across several consumer categories (like True Classic, Create, and Lumin) seamlessly deploy CashBack offers.
With CashBack, folks can shop for themselves and then receive Cashback as an incentive to go and make a second purchase for someone else (with a gift card option) – a perfect opportunity for gifting this Valentine's Day! If you're interested in replacing coupons and testing CashBack, we recommend starting with your core welcome series, email, and ongoing SMS campaigns.
Valentine's Day has quickly become a hallmark discount opportunity for global brands, but this list is just a teaser of what's to come. Our ecommerce experts at Fondue are producing a new report diving into the top discounting strategies for Valentine's Day across the Top 100 Shopify brands. Stay tuned for the release of that comprehensive report!