When Cupid Strikes..
With Valentine 's Day just around the corner, the Indian retail is rolling in the spirit of festival along with the anticipating lovers.
Where the former is waiting to unravel the new collections, the lovers can’t wait to lay their hands on them. We took a walk down the festive street to know what ‘s in store(s) this season..
Moral police have taken a backseat during this time of the year as lovers are gearing up to express their love unabashedly and much to their parent’s chagrin. Retailers will certainly laugh all the way to banks like every year as sales will soar during this time.
Chocolates, cakes, cards, flowers, jewels, apparels, fine dine gets a sizeable chunk globally according to a report from national Federation(NRF). They further state that customers will spend around 17.02 billion this coming Valentine’s day in which India will hit 2000 crore approximately.
Matters of the heart: It is all about heart shaped gifts, be it cards, jewellery(pendants, bracelets, ear rings, rings), chocolates, cards, bouquets, cakes, pillows, etc. So, creative gifts replace traditional gifts during this time.
Window display and decoration: Retailers make best use of their window display as they feature meaningful, themed products: like heart shaped jewellery, pink and red dresses with hearts printed on them while stuffed toys with red bow, cards, chocolates, rings, key chains etc are kept near the cash counter for impulse buying.
Gender-wisdom: Men are big spenders as they would buy jewellery, soft toys, flowers, apparels, book hotels, holidays and fine dines. The male ego yearns to be appreciated on this day as their lovers feel guilty of how much they spend on them. Women spend mostly on men accessories like valets, premium pen, cuff links, belts, perfumes, shaving kits, shirts etc.
City wise distribution: A poll conducted last year showed that 70 per cent of young adults believed it to be day of expressing love. Traditional Chennai is fuelling its passion of celebrating the day but in a tight fisted way; those between 21-25 were the most forthcoming while 16-20 years were just waking up to its realization. In Chennai, 55 per cent said they spent less than 500.
Delhi and Mumbai ( spend in four figures) were the leaders in celebration with Kolkata, Bangalore and Hyderabad in closer heels.
Target group:
- School children 12 years onwards in Metros that comprise a share of 17 per cent spend on cards, pendants, candles, chocolates, flowers, cakes, perfumes, low budget gifts like key rings, pens, teddy bears etc.
- Lovers in the age group of over 23 have the money power makes 32 per cent, spend on fine dine, discos, apparels, perfumes, jewellery, night out, holidays, wine etc.
- Also, to some extent BPO workers who start earning 18 onwards and have low savings make a share of around 28 percent spend on flowers, cakes, wine, clothes, small piece of jewellery, etc.
- Families that exchange gifts in keeping with the celebration comes to 23 per cent spend gift cakes, chocolates, fine dine, artifacts etc.
What’s hot during this time?
- Swarovski has come up with new range of mobile accessories, key rings and pendants in different shapes hues and colours.
- Archies: With an increased focus of gifting, Archies has signed with many global majors, like Russ Berrie, Inc. of USA, Keel Toys, Carte Blanche, Paper Island, History & Heraldry of UK, just to name a few.
They have also tied up with Hallmark, which is good news. S o, one can expect some unique cards this season.
- HomeShop18 has a plethora of Valentine’s Day gifting solutions for everyone with 20 per cent value back on each purchase.
- Fashion and You and Deals and You have some irresistible options in gifts and dining.
- Body shop has new range of creams, perfumes, shaving cream etc.
- William Penn has introduced Prelude Mini-series for women and a pick of Dalvey accessories for men, the choices for gifts are aplenty.
- Ferns and Petals have flower bunches, baskets with options of chocolates, cakes etc.
- Open Oven has heart shaped cakes and special packaging which has chocolates and teddy bear.
- Suratdiamonds.com has heart shaped jewellery for every budget.
The above are just a few,
we will come across more pleasant surprises with each passing day!
