Retail Chronicles 12th

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VALENTINE'S DAY LOVE OF RETAILERS Seasonality is so important in the retail world. Whether it’s Valentine’s Day or Back to School, retailers have to follow the seasons as well as significant national events. For retailers across the country, Valentine’s Day is more than just a little holiday to celebrate love. Consumer spending on Valentine’s Day gifts results in major retail sales. Valentine’s Day is a chance to tell people how much you love them and hopefully make them smile and this also bring smile for retailers. RETAILERS WHO DO BEST DURING VALENTINE’S SALES INCLUDE CANDY SELLERS, JEWELLERS, & RESTAURANTS It is clear that the promotion of this ‘day’ happened since early 1990’s. As per the Associated Chambers of Commerce and Industry of India (Assocham), “Valentine’s Day is a heavy buying festival with a significant jump over the past 4- 5 years”. Many retail businesses such as Hallmark, really depend on retail sales from Valentine’s Day gifts. Retail By Raveena Gupta Sales of Valentine’s Day Cards is Big Business for them. The size of the market is this large since V-Day is not a singleday fete but is celebrated throughout the week. It starts with Rose Day (Feb 7), followed by Proposal Day, Chocolate Day, Teddy Day, Promise Day, Kiss Day, Hug Day and then Valentine’s Day (Feb 14). Retailers observed that the young adult in the age group of 20 to 30, spend the most on Valentine’s Day gifts. In fact, men spend twice as much as women. The survey has revealed that big salary youths especially from the MNCs, BPOs, IT and big corporate spend massively on gifts from Rs 1,000 to Rs 50,000 compared to students who spend about Rs 500 - 10,000 on valentine day. As per the findings, the rural spending during the V- day has also increased by over 25% than previous year. More people shop for less expensive gifts as people believe in the thought spend on the gift rather than the money. The businesses which get sales boost in this season are Candy shop, Greeting cards, Restaurant, Florist and Jewellers. Valentine’s sales depends on the country 03
04 economic status like any other business but it also depend depending on what day of the week Valentine’s falls on. For florist, flowers and typically roses are his biggest selling Valentine’s Day gifts. There are various V-Day special tour packages on promotional offer priced between Rs.5,000 - 50,000 to Kerala, Goa, Nainital, Mount Abu, Dehradun, Musoorie, Shimla and even to foreign land such as Singapore. Why is seasonality important - Retailers love a theme as it allows them to regularly update the look and feel of their shops. - It provides a connection with customers as it reflects the topical things they are thinking about. - Retailers can adapt their products or services to reflect the season or theme. There’s usually a way to tie products in to a particular theme, if it’s relevant to their customers. - Seasonal lines are a great way to refresh a brand’s offering or even launch a new product. - Personalisation is a great way for bricks and mortar stores to compete with e- commerce and seasonality can be used to offer a more personal and tangible experience to customers. Where customers Shop Department and discount stores do most business in this season with more shoppers visiting department stores (35 %) than discount stores (31 %). Online has also captured shoppers, with 29 % using Amazon, flipkart, etc. But 19 % still go to specialty stores, and 17 % stop by the florist's shop.
Page 1 and 2: in The City: New Wellington Daniel
Page 3: 02 New in the City By Aditi Barde S
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Retail Chronicles 12th

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