Many of the biggest brands are poised to profit from Valentine's Day. This ancient tradition has been celebrated in various forms on every continent for hundreds of years. Advances in digital technology are disrupting how companies communicate with couples and create memorable experiences.
ADVERTISEMENTOn this episode of the Exchange, we focus on the multibillion-dollar business of Valentine’s Day. February has been the month of love since the 14th century, but technology is transforming the business of romance. The European President of luxury hotel group, Four Seasons Adrian Messerli, explains how the biggest brands are wooing customers by combining old traditions with the latest digital innovation.
The business of romance is booming
According to research company IPSOS MORI, more than half of all adults with a partner (55%) plan to celebrate Valentine's Day. The special day is most popular in the United States where three quarters (75%) of all couples typically take part. All this enthusiasm translates into massive amounts of money. The business of love is booming in Europe too. More than half of all couples (51%) in the United Kingdom, France and Spain also typically join in with shopping and celebrations.
You might also like
AI is transforming businesses: What will that look like in the future?
