Valentine’s Day is upon us, and although some may consider it a “Hallmark Holiday,” recent data proves that retailers need to take it very seriously. The National Retail Federation reports that Cupid’s big day actually ranks second among holidays for consumer spending, only behind the Christmas season. And, as reported in USA Today, people will spend an average of $126.03 on gifts for their loved ones, 8.5% more than last year. In total, spending on the holiday is expected to reach $17.6 billion. Clearly, chocolates and roses just aren’t going to cut it anymore.

In fact, one of our customers, Not On The High Street.com is offering some inspirational gift items through their Valentine’s Day Gift Guide, made available both on their website and Facebook page. Consumers can browse through unique items, and make their purchases without ever leaving Facebook. With over 20,000 Facebook fans, Not on the High Street is maximizing the potential of this loyal customer base, helping their followers discover the perfect gifts for their loved ones, beyond the local florist.

Facebook signs payment services deal with Bango
On the subject of Facebook commerce, last week mobile payments firm Bango announced that it has signed an agreement to provide payment services to Facebook.  Facebook and Bango are not yet discussing the specifics of the deal, but the implication is clear. We will soon see more retailers like Not on The High Street.com, in addition to what we’ve already seen from Express and Kenneth Cole, using Facebook as a platform for commerce.