With Valentine’s Day upon us, those who have not yet prepared by popping to the shops or ordering online may be facing rising levels of panic at the thought of confronting their loved one with nothing but an apologetic smile. Yet fortunately there is still time during the lunch break or on the way home to pick up a last minute gift.
This will play into the hands of small retailers, who can capitalise on the fact that it is now too late to take advantage of online shopping to procure a gift.
However, simply assuming that customers will flock to a small store in search of the perfect present would be misguided at best – in order to truly profit, shops must pay attention to detail when it comes to promotion.
According to research from Rakuten Marketing, the eight days leading up to February the 14th are a hotbed of activity with many consumers leaving it to only two days before Valentine’s Day last year to make their purchases. And, of course, there will always be those who have still not bought a card or gift today!
The same research indicates that the desire to save money wherever possible has prevailed on even the most romantic day of the year, so slashing the prices of remaining stock makes sense.
But even those who do not wish to lower prices can capitalise on the remaining hours of shopping time.
By taking the time to create a window display or decorate their shop, retailers can appeal to tardy lovers and have a profitable Valentine’s Day.
