From a last year’s article on Finder.com.au, some of the stats surrounding Valentine’s Day expenditures may make your heart skip a beat!
How much can mass-produced romanticism muster?
$253 million!
Australian couples are willing to fork out a significant amount of cash to properly celebrate the commercially cultural, cute and sometimes corny Valentine’s Day, according to new research.
A study by finder.com.au found Aussies who recently married in the last five years are set to drop a whopping $253 million on Valentine’s Day 2017.
This equates to a spend of approximately $315 per person on gifts and goodies for their spouses.
Based on last year’s expenditure, Aussie men are anticipated to spend $119 more on presents than their female partners. Men will allot an average $386 this year, while women will devote $267 to their man.
Comparatively, the average Australian spent $539 on Christmas gifts just over a month ago.
Flowers and plants, chocolates and candy, jewellry and cologne, clothes, activities, travel and adventure, and yes, even the odd kitchen appliance, makes the list of Valentine’s shoppers desperate to find the perfect gift to prove their love for their significant other on February the 14th.
How can you, the retailer, best maximise the opportunities that this retail Love-fest offers?
Let’s start at the beginning:
1. Ask yourself, “Are my products/store and Valentine’s Day a match made in heaven?”
If you’re a florist in the CBD, get ready for the onslaught. However, if you’re a tyre retailer, you may not notice love in the air at all.
If your products have gift potential, are romantic in the least, or have some potential to solve a problem, develop a hobby, stir up an emotion or a memory, then Valentine’s Day can offer you some incredible retail selling opportunities.
And, there are a few things you can do to help that time-starved, idea-less, February 13th shopper to pick you.
2. Create impactful seasonal displays. Make sure the “love connection” to your products are obvious.
Take space front and centre, in the highest traffic area in your store and build a Valentine’s display that is love-worthy. Choose products for both the men and the women, young and old, romantic and practical and group them together in a powerful display, decorated with noticeable signage, love quotes, red hearts, balloons, images of happy, and happy loving couples to get the attention of every shopper who sets foot in your store.
3. Take it outside.
Create a Valentine’s display outside the store with the best of the best and most appropriate of your products. Add some balloons and other eye-atching decorations to grab the attention of passersby. If you’ve got a sign in the car park – add a love quote – do the same with any other signage opportunities in and around the store – add some red heart balloons.
4. Promote, promote, promote
Declare your love for Valentine’s Day and your customers everywhere! We’ve already mentioned in and around store signage, but make sure you’re posting about your Valentine’s Day offering through all of your social media channels, take an ad out in the local paper, make reference to your Valentine’s Day sale on your website (if you have one – if you don’t let’s talk), print an offer on your receipts leading up to the day, make instore announcements, create a Valentine’s Day flyer to start stuffing in customer’s bags in the lead up. Just like true love, scream it from the rooftops.
5. Consider hosting a love-related event.
Got a couple who wants to get married in your store? This would make a wonderful media event. Think we’re off our rocker? Costco did it as have many others. Perhaps you could host a Valentine’s event for singles, or even an anti-Valentine’s day event for those who fall into that category.
6. Be the creative genius behind the perfect gift.
Many people aren’t great at coming up with the perfect gift idea, so, do it for them. Create gift baskets that support a key theme and offer a unique collection of products. Offer a product and gift certificate combo. Pair up with another retailer to create a great combination gift – think shoe retailer with a certificate for a pedicure or manicure combined with a new ring, a set of blank canvases with painting lessons, the possibilities are endless.
7. Offer ancillary services.
Offer a personal shopper service to help those undecided choose the perfect gift. Even though you don’t usually, sell Valentine’s greeting cards. Provide a gift-wrapping service or a delivery service, even if those aren’t usually on offer.
8. Show your shoppers that you love them.
Find interesting ways to reward those shoppers in store on the day. Provide every shopper with a single red rose. Offer a should or foot massage for weary shoppers. Bring in a mobile barista and offer free coffee and biscuits. Have a huge box of chocolates for people to indulge in.
Don’t forget to show your employees some love as well.
Valentine’s Day is a fabulous retailer sales opportunity. But, it’s also a day where love is the focus, so why not show your customers and your staff just how important they are to you and give them all a little love?
