The Best Valentine’s Day Ever
As Valentine’s Day sales reach record highs, retailers are cashing in, in new ways.According to the National Retail Federation, in 2016, 55% of consumers celebrated Valentine’s Day. “They are spending an average of $146.84 on flowers, jewelry, candy, apparel and more, up from $142.31 in 2015.” What we are seeing is, that as the economy improves discretionary spending goes up, with almost $20 Billion dollars up for grabs last year.
So how are floral and gift store’s taking advantage of this?
Some stores are hosting valentine’s day sales. This could be a X% off valentine’s day items such as candles (don’t forget LED!) flowers or candy. It could also mean offering a gift certificate plus a small box or candy or small floral arrangement as an option for those who don’t quite know what is right.
One retailer we came across gets extra, long-stem roses. Every year she hangs a sign up in front of the store noting that long Stem Roses are available for $2 to “Surprise her”. She keeps them right next to the register, trimmed and ready to sell. The secret is, she also has boxes of chocolate and other small gift-able items ready to be purchased with the roses that helps drive up the basket (and please her customers!).
We’ve also heard of retailers creating partnerships with local food delivery services. Instead of going out to a fancy dinner, shoppers can now order a meal they make at home complete with flowers and a small gift. For shoppers it’s an easy romantic dinner in today’s hectic world. For the retailer and the food delivery service it’s a great way to cross promote products with minimal time and money investment. Win. Win. Win.
However you look at it, Valentine’s Day spending is on the rise. And from sales, to deals to partnerships, retailers are coming up with new ways to excite their customers and acquire their fair share of the day’s dollars.
Do you see a spike in sales are Valentine’s Day? How do you manage it? What kind of events or partnerships are you using to attract customers? Tell us about your success in the comments below!