Steps To Make Valentine’s Day a Success for You
With less than a week to prepare for Valentine's Day, it is quickly approaching.
Lastest research estimate here from the Australian Retail Association
The prediction here is that Australians will spend nearly $500 million. That amounts to approximately $118 average spend by Australians this year which is up. COVID-19 affected people's interest in Valentine's Day last year. This year should be up since there will be no restrictions on this Valentine's Day.
Google for this year's outlook looks like this.
So by Google, interest currently is slightly lower but comparable to previous years. This makes sense as even in the middle of the most significant pandemic we have all experienced, with its unprecedented shakeup of our economy. Consumers did not cut back their spending on Valentine's Day.
That is a lot of sales, so if you want your part, you must prepare. Let's get started and find out how businesses can get the most out of this romantic day.
Researching sales data from the previous year.
Now, if you want some ideas, see what does sell in your shop on Valentine's Day and what stock you have. It will take seconds to discover and give you some good ideas. Remember, unlike other marketing holidays, many products on Valentine's Day are still marketable afterwards if you select wisely.
So in your POS software, look at the Top N stock report, which gives you the top-selling items.
Go to Register Reports marked in green.
Now you will see two reports. Click the one on green first. The purple you should hold in memory as you may need it before placing an order.
Now select last year's Valentine's day and the top 40 items, which should be plenty. I suggest doing it by quality sold.
You will get a report with top sellers over Valentine's day, plus your current stock holding to see how you stand for Valentine's day.
Also, run his report for 2019. This was the pre-pandemic period, and one expects this year to be a mix of last year and 2019.
We now have a list of the products sold well in your shop. That took less than a minute. Now make sure you have enough stock.
Embracing New Trends
You need to contact your suppliers to see if they can suggest new products - chocolates, flowers, romantic gifts etc.
Go beyond romantic gifts.
People on Valentine's Day today, as well as romantic partners, are purchasing gifts for close friends and pets.
Check that you have gift wraps and cards. Many people need this to add a personal touch to their purchases.
Create a Valentine's Day-Specific Section in the shop.
It is creating such a specific section in the shop increases sales dramatically. It doesn't have to be spectacular; it does not have to be big. Put your Valentine's products on the stand.
Put cute messages on signs to decorate the front of your store to attract the attention of passing shoppers. Spread the love.
Consider offering a gift-wrapping service.
It is a simple, cheap way of differentiating from business and gives you a professional and personalized touch. Employee training in the fundamentals of gift wrapping is not hard, and the added value it can provide can be well worth the effort. Learning to do it is not difficult and only takes a little practice. Once you get going, consider having * free * and * luxury * pricing services. Luxury includes a card, so a toy becomes a beautiful gift wrapped in attractive wrapping paper with a card.
Email and social media campaign
If, as suggested, you have a loyalty program, why not send out a free newsletter through Mailchimp? If your company has a Facebook page, posting a few photos in a post is a great idea.
You can have a significant chance to boost sales and connect with customers on Valentine's Day.
> Prepare for the holiday by using sales data from the previous year, taking into account changes brought on by the pandemic
>Stocking up on merchandise related to Valentine's Day
> Embracing the new trend of buying gifts for friends and pet
> Creating a special section in the store
> Offering gift-wrapping services
Please make the most of this romantic holiday.