Valentine’s Day gets less attention than it deserves in the retail world, since many of us are still coming down from the holiday rush. Yet V-Day is a major national holiday, and retailers can’t afford to ignore the major selling opportunity that February 14th provides. According to the National Retail Federation, 53.9 percent of customers celebrated Valentine’s Day in 2017 – which means that just over half of U.S. customers celebrate this big day. What this also means is that customers make a major financial impact on this romantically-inclined holidays, with the NRF reporting that customers plan to spend nothing short of 18.2 billion this Valentine’s Day.
Even with Valentine’s Day just around the corner, there’s still time to capture some consumer dollars. To help, look to your inventory and see what you have that can get customers excited. Below, consider how these popular five items can boost your sales and set customer hearts a’flutter to help you achieve stronger sales this February 14th.
#1. Bedeck the Store with Jewelry
There’s no overstating the importance of offering a wide variety of attractive jewelry at various price-points for your customers to peruse for Valentine’s Day. After all, jewelry is where customers plan to spend the most money this season, with 4.3 billion dollars being spent on the category throughout V-Day of 2017. There are plenty of jewelry trends to choose from this year that include midi rings, asymmetrical (or totally different) earrings, garish statement pieces and long layered necklaces… just to name a few. And let’s face it – Valentine’s Day or any day, jewelry at affordable price points is always good to have on hand. Explore the latest jewelry fashions and accessories at ASD Market Week to ensure your store is always well stocked.
#2. Sell an Experience
Gifts of experience are on the rise for Valentine’s Day. Experiential buying runs highest among younger consumer demographics, with NRF reporting that 40 percent of 25 to 34-year old customers and 45.1 percent of customers between 18 and 24 intended to give the gift of an experience last year. Yet this trend doesn’t just apply to Gen Z and Millennials. 35.7 percent of customers between 35 and 44, 18.6 percent of customers between 45 and 54, and 10.5 percent of customers between 55 and 64 planned to gift an experience in 2017. Sell an experience suited to your target customers’ interests by tapping into the DIY trend or other opportunity that directly pertains to your store. From mix-your-own-whiskey to terrariums, there’s no shortage of ways to engage your customers with hands on experiences. The best part? They will likely need to buy inventory – whatever that unique inventory is for your store – to be a part of this fun.
#3. Gorgeous Apparel Always Wins
Let’s talk about clothes. According to NRF, 19 percent of Valentine’s Day customers planned to buy apparel for their significant others or family members in 2017, and clothing comprised 1.9 billion dollars of customers’ intended Valentine’s Day spend. Customers who’ve been struck by Cupid’s arrow are often looking for a bargain, so consider how stocking high margin items at affordable prices can help you achieve stronger sales. To get the best deals on apparel and intimates for your store, register to attend ASD Market Week, held March 11 – 14th of 2018.
#4. Bath Time Luxuries Priced to Move
Remember those NRF stats about how close to a quarter of customers gravitate towards buying experiences on Valentine’s Day? Another way to cater to these customers is to let shoppers customize their own spa experience with high-margin bath and beauty luxury products. Bath and beauty products are creative gift options which offer customers to opportunity to create their own decadent at-home spa. They also make the perfect gifts for coworkers and teachers. Since the prices on bath time luxuries run the gamut from $5 bath bombs to $70 face creams, there’s the right product for each customer and price point. If you’re in the market for unique and exciting products in the bath and beauty category, check out the wide selection of products and vendors at ASD.
#5. Unique Stationery and Paper Goods
Every good gift comes with a card and NRF reports that 46.9 percent of customers planned to buy greeting cards for Valentine’s Day 2017. The key to successfully choosing the right stationery and paper goods for your business is looking for cards which are aesthetically-appealing and creative enough to appeal to even the most discerning V-day shopper. Last year alone, ASD hosted attendees from the 3 largest greeting card and paper companies in the business: Hallmark, American Greetings and Papyrus.
When you think about finding the right stationery, apparel, jewelry or experiential goods for your Valentine’s Day inventory, make sure you’re sourcing from the trade show that has all of your bases covered. Find the perfect unique, high-margin products to make your Valentine’s Day a smashing success at ASD Market Week, held at the Las Vegas Convention Center, March 11th-14th of 2018.
Take advantage of ASD Market Week’s 90+ free retail strategy sessions this March 11-14, 2018 in Las Vegas.
By Jasmine Glasheen, RetailMinded.com