Marketers are always awake to find out business opportunity in scrap also. So how can they leave big business like Valentine’s Day? They know customers will spend huge amount in buying gifts, in getting special beauty treatment to look attractive on this day etc. So they start preparing for this in advance and try their best to deliver best. Whole week from 6th Feb. to 14th Feb. is celebrated as Valentine’s Day week. Gift shops, cards shops, flower shops, restaurants, all are decorated with love theme. E-mails, mobile inbox are filled with messages about arrival of special Valentine collection within stores.
Valentine’s Day is the time to express your love to your loved ones. This time of year is favourite time for the florists as flower is the best way to express your feeling .Therefore florists charge premium for the flowers, customers are also ready to pay that easily. According to sources last year around 103 million flowers were sold in the U.S during the week leading to Valentine’s Day.
The hottest selling flower is the red rose. High demand of red roses put pressure on wholesalers also therefore retailer increase prices of roses to meet the demand.
``In general, Valentine's Day is probably 30 times the normal business day,'' said Kristy Eidam, consumer marketing manager. Valentine’s Day is a big business. This day is like a gold mine for restaurants, florists, candy makers, balloon stores and for e- retailers. Majority of business comes from gifts and flowers.
Restaurants owners also enjoy good business on this day. Prior reservation is made to get space. Theme based parties is organized in clubs. Jewellery sales goes up tremendously on this day.
Valentine day is a big business for luxury brands too. Big brands like Gucci, Versace, christen Dior, Ck comes up with their special valentine collection. These brands see jump of 10-12% in sales during this period. Traditional gifts are one side, but when it comes to gifting something different exclusive and different then money does not comes into picture.
Then it It could be a Leiber ring purse for $1,895, an IK rose flower dipped in gold for Rs 1, 300 or a romantic spa package at Galaxy Hotel for Rs 12,500. According to the US’
National Retail Federation (NRF), Americans plan to spend a staggering $17.02 billion this year on Valentine’s Day. Jim Trippon, an authority on the money habits of self-made millionaires in the US says that this year’s day of love will cost the average consumer $1,300. Closer home, the numbers are equally impressive. According to the Retailers’ Association of India (RAI), the total spent on Valentine’s Day gifts last year was about Rs 12 billion ($270 million). Out of this about 30% of the total spend, Rs 360 crore, is estimated to have been spent on jewellery of various kinds.
The tradition is not new, In 1891, an Indian prince sent his beloved in London, a Valentine card set in carved ivory surrounded by diamonds. It cost him £250,000. So the time has changed but the way to show love has been same but more marketed.
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