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Why retailers are loving Valentine’s Day 2023

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A sharp spike in demand, doubling of sales, and more business are some of the reasons retailers across categories are looking forward to Valentine’s Day 2023

Bengaluru:  This Valentine’s Day, when love is in the air, it is also bringing cheers among retailers: Brands are expecting a spike in consumers with many brands exceeding sales projections and offering promotions for top-gifting items such as candy, flowers and jewellery.

“This Valentine’s, at the house of Candere we have various exclusive deals that we run throughout our V-day campaign period. We are expecting around 40% growth this year as compared to our usual days,” Rupesh Jain, chief executive officer of Candere by Kalyan Jewellers said. “Valentine’s celebrations have always been a special occasion for us as we help our customers celebrate this day with their loved ones making our special and finely crafted collections a part of this celebration.”

E-commerce marketplaces such as Flipkart and Amazon and retailers like Croma are offering attractive deals on electronic gadgets such as mobile phones, smartwatches, laptops, Bluetooth speakers, instant cameras, and headphones.

Bengaluru-based Flipkart is celebrating Valentine’s week with the name Flipkart Flip Heart Days and offering savings on gadgets, especially Apple products. The company is offering iPhone 13 at a surprisingly low-cost of INR 36,999. Additionally, during the Valentine’s Day deal, customers may receive Rs 2,000 off on HDFC Bank credit non-EMI, credit, and debit card EMI purchases. The platform is also offering decent value when consumers exchange their old electronic gadgets to buy something new.

“We look forward to 2X bigger sales than last year when we crossed the 1 million mark for gross sales in Valentine’s week alone,” says a spokesperson from Croma, the Tata Group-owned consumer electronics and durables chain.

Marketing trends and collaborations

“Valentine’s Day is the day of lovers, but it is also a great opportunity to promote your business and your products,” said Chef Ananda Solomon, founder of Thai Naam, a flagship Thai restaurant.

“Even if you don’t sell chocolates and red roses, with the right Valentine’s Day marketing strategy, you will be able to win over a nice chunk of consumers and thus increase your business revenue. Get your message across in the right way and stand out amongst all the other promotional messages invading consumers’ online and offline lives,” Solomon added.

Over the years, as the Valentine’s Day has turned out to be a major occasion for youngsters in India, a country that boast of half of its billion-plus population under the age of 30 years old. So consumers have seen an evolution in the way brands approach Valentine’s marketing campaigns.

Devesh Gangal, country marketing manager of same-day delivery firm Borzo India agreed, “Earlier, product offers with creative copy were the most common valentine’s day marketing strategy. With social media and content marketing taking precedence, retail brands are looking at collaborative marketing to maximize reach.”

Borzo is working on collaborative content with various brands This Valentine’s Day. “In fact, integration of a brand’s product and offers with cross-marketing and focused channel-based marketing will yield better results. When different brands collaborate on any platform, brand awareness and resonance in both sets of target audiences rise,” added Gangal.

Multinational online retailer Amazon has created a ‘Valentine’s Day Store’ with different gifting options available at up to a 70% discount.

“We have a specially curated Valentine’s Day store to provide our customers convenience and ease to shop stylish and authentic gifts for their loved ones. With the evolving customer choices, we have exciting new launches, are running daily contests and live sessions on social media, sharing styling & beauty tips, hosting engaging live sessions on the shopping app and sharing handpicked recommendations with our customers from brands like GIVA, Zaveri Pearls, Hidesign, Aldo, Kimirica, Swiss Beauty, Fossil and Titan, ” said Saurabh Srivastava, director of  Amazon Fashion, India.

An online jewellery store DishiS Jewels always occupies higher ground when it comes to marketing, and the strategies for Valentine’s Day this year are no different.

Dishi Somani, founder of DishiS Jewels said, “The company focuses on providing discounts to returning customers as well as launching promotional campaigns online, in print, and on online portals. As a matter of fact, the company employs digital marketing tactics and celebrity endorsements to capture the attention of both existing and potential customers. The brand’s goal is to remain at the top of the marketing game while still providing customers with an enjoyable and memorable shopping experience.”

Manasa Garemella, co-founder of Kindlife, an online marketplace for new-age beauty and wellness products explained the brand’s partnership with Friendicos, a veterinary care centre.

“Our optimistic forecasts towards Valentine’s Day depict a growth of 200% in sales and would continue to grow in a similar fashion every month. This year we will be expanding our strategies and have announced our all-new campaign in partnership with Friendicos, ‘BeatThisLove’ showcasing the lovely bond of giving in its purest form between humans and their furry companions.”

Tackling the deliveries

Today, consumers can send and receive products in the shortest time possible, thanks to delivery applications such as Dunzo, Swiggy Genie, and Borzo. E-commerce portals are also providing same-day delivery services.

According to Devesh Gangal from Borzo India, “Home Delivery is the most convenient and preferable option for the customers. In-store pick-up usually takes place when the customer stays in the radius of 2kms or just happens to pass through the store’s route.”

“The delivery equilibrium will always be skewed towards online delivery. In fact, with various efficient delivery players in the market, D2C brands can completely outsource last-mile product delivery to such delivery players,” added Gangal.

The multi-category gifting company IGP.com have partnered with Borzo to fulfill e-commerce deliveries for this Valentine’s day. Even cost-wise, it is easier to outsource delivery solutions to players like Borzo, rather than pursue a self-delivery model.

“For a seamless experience for customers, DishiS Jewels is available on prevalent e-commerce platforms such as Amazon, Nykaa, Ajio, and Etsy. As such, the direct-to-consumer model is currently the most popular option for the brand, as it allows customers to have their desired jewellery delivered straight to their door,” said Somani.

Milap Cosmetics, a manufacturer and supplier of beauty products follows a similar way of delivery.

“With a growing trend for customers to opt for home delivery in the last few years, Milap Cosmetics has a B2B model and executes its sales operations primarily through its 20,000+ retail stores available in 19+ states,” said, Anchal Malhotra Chadha, marketing head of Milap Cosmetics.

In addition to its own website, the brand also sells on Amazon. The brand also integrates third-party applications and services, such as payment gateways, shipping, analytics, and advertising solutions, into its e-commerce platform to help customers with their buying journey.

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