Dayketing has increased Spanish consumption by up to 450% in the last six years. Dayketing is a marketing strategy that adapts a company's commercial communication techniques to concepts related to specific days that have a lot of influence on society in order to increase the return on its commercial actions . It is not a new concept, since dates such as Black Friday or Mother's Day date back to the mid-twentieth century. What is certain is that digital transformation, new technologies and globalization have created a wide range of promotional opportunities through dayketing, which consumer companies around the world have joined.
Increased consumption in 'dayketing'
The VI bankintercard Report: "Dayketing Consumption" , prepared by Bankinter Consumer Finance , reveals how dayketing has increased consumption by Spaniards between 47% and 450% in the last six years.
To analyse this data, the days of consumption par excellence have been selected. Some are determined by tradition, such as Mother's Day, Book Day, Christmas or Valentine's Day. Others are imported from the United States or China or "borrowed" from e-commerce platforms, such as Prime Day or Singles' Day; and even others that influence consumption through mood, such as the saddest and happiest day of the year, the most recent dayketings.
Who spends more on these special dates?
Among the conclusions, it is worth highlighting that it is female spending that grows the most during these typical consumption dates. So much so that, over the last six years, on New Year's Eve, women's consumption grew by 101% compared to 82% for men. Not to mention that, although women increase their spending, it is men who spend the most money on their purchases on these days, even tripling the spending of women. Thus, for example, on Black Friday, men spent 71% and women 29%.
Analyzing generational profiles, seniors are the ones who have increased their spending the most. And although they are the most committed to traditional dates, they are also, little by little, adhering to more digital dayketings . As an example, on Singles' Day, from 2016 to 2021 Seniors have increased their spending by 103% compared to 36% of Millennials. Generation X, those born between 61 and 80, is the one that spends the most on most dayketings, whether traditional or imported, mainly driven by their active life and greater purchasing power. A generation that, on Valentine's Day in the last six years, spent three times more than Seniors.
Alfonso Saez Alonso-Muñumer , Director – General Manager of Bankinter Consumer Finance, said that “it is important to highlight that the pandemic has changed certain consumer habits which, far from decreasing or disappearing, have migrated to other channels and other types of purchases. Physical purchases have been replaced by digital purchases in recent years and spending, for example, has changed from restaurants to supermarkets due to Covid.”
The VI bankintercard Report: «Consumption in Dayketing»
The report also reveals that consumption on the days indicated is already beginning to be at pre-pandemic levels , especially on digital shopping days, such as Prime Day, which is celebrated today, July 12, and has greatly increased consumption in the last six years; specifically, from 2016 to 2021 it experienced a growth of 450% on Amazon and we estimate that, in 2022, it will continue to grow and reach an accumulated growth of between 500 and 550%.
Digital transformation has had a profound impact on consumer habits. Physical shopping, that of seeing, touching and comparing, is still very important, but it is observed that in dayketing, purchases are made, above all, israel number data on Amazon. In fact, the platform has registered triple-digit growth consistently over the last 6 years.
the emergence of new dates from other continents - such as Black Friday, Cyber Monday or Singles' Day - have significantly increased consumption far above that of traditional days, there is a new reality and that is that Covid has changed the trend and traditional dates have picked up again. In fact, they have registered growth of more than 150%.
As for the motivation to buy, consumption is different on the more traditional days , linked to Spanish culture, and on the “new” consumption days. What drives consumption on traditional dates is the emotional part, the one most attached to tradition (Mother’s or Father’s Day, Three Kings’ Day…). On the other hand, on those imported and mostly digital days, it is the offer that encourages spending.
Mood is another aspect of consumption that the report analyses. On days associated with happiness or sadness, both based on a formula with ingredients such as the proximity or distance of the holidays, the January blues or the extra pay, the consumption pattern changes and the purchase of trips increases or consumption in restaurants decreases. For example, on Blue Monday last year, both men's and women's spending decreased by 11% and 17%, respectively. On Yellow Day, restaurant spending has grown by 368% from 2016 to 2021.
Can 'dayketing' evoke a feeling of saturation? This was the question of one of the attendees. To which Alfonso Sáez responded, "these dates are days that are highly anticipated by the population, due to the reduction in sales that usually occur. In addition, he considers that as long as it is well associated there will not be this risk."