By Poder.IO, Special for USDR
Men spend around 65% more than women when it comes to show their love on Valentine’s day and jewels are their favorite gift to give, according to the analysis of consumer behavior patterns performed by Poder.IO, the artificial intelligence company for marketing and customer behavior prediction.
According to Poder.IO, jewels are the preferred gift by men during Valentine’s around the globe, even over flowers or romantic dinners. They spend over 210 dollars per gift, and women, a little bit more money savvy, spend around 127 dollars to surprise their significant other.
Next to the jewels, clothing is the other favorite item of men with an average spend of 112.71 dollars. Those who don’t want to splurge too much, but still want to make a gift go for gift cards, spending around 106 dollars.
“With the help of Artificial Intelligence, the analysis of important spots in the customer journey is easier and more effective. This aids retailers and marketers to know the key moments of their users, allowing them to be in the right place and time to sell,” said Diego Paramo Co-founder and VP of Global Sales & Partnerships of Poder.IO.
Women’s, spend the most in jewelry (127.34 dollars), and on nights out or dinners (71.16 dollars), however, the spend difference between both genders is important: men spend 65% more than women.
Another insight of the study was that millennials are the ones who celebrate this special day more: 64.3% of people between 25 and 34 celebrate it and spend around 213 dollars.
Golden opportunity for brands
Paramo said that the ideal moment for brands to seize these consumer moments, starts from on the last week of January, “from the moment people finish buying Christmas gifts, they start thinking about Valentine’s, that’s why, starting all valentine’s marketing actions by the 3rd week of January is key,” he explained.
Keywords: artificial Intelligence, valentine’s, consumers, consumer behavior.
Poder.IO is a Miami based startup developing artificial intelligence to improve marketing and to predict audiences and consumer behavior.