Retailers cash in on V-Day

Retailers are launching various offers to boost sales.
Retailers cash in on V-Day
The much anticipated Valentine’s Day is here and retailers are leveraging this business opportunity via a range of specially designed products as well as ‘offers’. Retail and allied businesses are expected to generate Rs 250 crore in sales on this day, a small fraction of global revenues, but it is expected to be higher than earlier years, pointed out marketing consultants.
 
In addition, with the growth of social media, retail chains are increasingly promoting their products via Facebook and allied sites.  And, the products offered across categories include:  
 
Stylish accessories  
 
The emphasis of retail chains in this category is to help couples make this occasion "memorable". As part of this strategy, fashion and luxury retailers are offering an array of products including Swiss-based Gc Watches which has the Gc B1-Class Chronograph watches. Ivana Perovic, CEO, AP Group, said, “We expect strong sales growth on this occasion." 
 
Similarly, GUESS Watches launched a range for both the sexes for V-Day, while Lavie has a ‘7 style special edition’ which includes handbags and allied accessories.  Sandeep Goenka, CEO Lavie said, “We are expecting a 20 per cent sales increase during this week.”
 
Keep it trendy
 
Fashion designers are offering a melange of traditional and western outfits for women, and the emphasis is on looking “stylish”.And, fashion retailer, 109F has a special collection of both traditional and western women’s wear, while JADE by Monica Shah & Karishma, offers the INNANA collection of gowns and evening dresses. The designers from this fashion house, said, “We have also tied up with several retailers in south Delhi for this occasion.”
 
In addition, Poonam Bajaj has introduced stylish kurtis with contemporary cuts, jacket styled anarkalis and exquisite patialas.
 
Home furnishing concepts  
 
Portico New York is offering up to 50 per cent discount on its bed and bath collection, while the retailer- Address Home has launched its collection of cushions and mugs, amongst others, and in tune with season, the entire product range is in red.
 
An affair to remember
 
Jewellers are offering heart shaped pendants, earrings and rings, in both diamonds and rubies, and they have been designed keeping in mind the needs of teenaged girls as well as working professionals.
 
And, Swarovski Elements has a range of pendants and rings for this occasion, while Anmol Jewellers has a collection in ruby and diamonds, and KamaJewellery is introducing two new collections.
 
Colin Shah, Managing Director, Kama Schachter, said, “It is for the first time that we have launched a collection for this occasion.”
 
Similarly, global QSR chains like Krispy Kreme are also attempting to leverage this trend, and are offering heart shaped doughnuts for this occasion.
 
A rose day
 
The demand for flowers and allied products including candles and soft toys grows exponentially on this day, and Ferns N Petals, a leading player in this segment, is also expecting an aggressive sales growth.
 
Pawan Gadia, CEO, Retail and Online, Ferns N Petals, said, “We generally witness a 35-40% increase in footfalls at our chain during this period.” They are not alone, and online retailers, rosesandgifts and phoolwala have also unveiled exclusive products for V-Day.
 
Innovative gifts
 
Retailers in this category are increasingly focusing on toys that are mobile-based apps and related gadgets. And, Simba Toys is offering the ‘Talking Tom’, while Micromax has a tablet - ‘Fun Book’.
 
Clearly, retailers are attempting to keep the cash registers ringing on Valentine’s Day.
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