A regular calendar year begins with New Year then slowly shifts to Sankranthi, and as the calendar progresses, February brings with it Valentine’s Day. While many moan the commercialisation of festivals, online (and offline) sellers shrug off naysayers and stock up in anticipation of brisk business.
Alibaba might have popularised the singles’ day sale to beat the lovey-dovey-mushy Valentine’s Day, but India is yet to get to a singles’ sale. Browntape takes a look at what online sellers can expect from Valentine’s day sales in India.
The story so far
ASSOCHAM conducted a study in 2015 and noted that shoppers were likely to spend a staggering Rs. 22,000 crores on Valentine’s day.
“Valentine’s Day is turning out to be a heavy buying festival with a significant jump over the past four to five years,” said D S Rawat, Secretary General, ASSOCHAM.
Couples spend anywhere from Rs. 1,000 to Rs. 60,000 on flowers, stuffed toys, chocolates, mobiles, and personal grooming items like cufflinks and jewellery. ASSOCHAM predicted in its 2014 study that the average online spend would hit Rs. 18,000 crores. Going by the trends, the total spend for 2017 is only going to surge.
How to make the most of Valentine’s day trends for brisk ecommerce sales
Take the following cues and prepare accordingly to get your share in the pie this year:
- Men spend more than women. The average amount that men spend is higher than the amount women spend. Target men with products for women like perfumes, handbags, clutches, beauty products, apparel, jewellery etc. Scary studies show that 53% of women would break up with their partners if he did not get them a V-day present. Don’t make the mistake of putting this statistic on your website to draw shoppers, though!
- Personalisation always strikes a right note. For Valentine’s day, show how much you care by putting together hampers or packs for shoppers. A grooming kit can hold a shower gel or soap, scented oils, bath salts, and perfumes. A day-out kit can hold a set of clothes, some jewellery (cuff links or watches for men and earrings, bracelets or necklaces for women), and a purse or wallet.
- 65% of folks will plan a meal outdoors. Tie up with popular eateries and hand out vouchers and discounts for V-day. You can give out coupons to shoppers who purchase goods for a minimum amount from you.
- Focus on all relationships, not just the romantic ones. V-day is a celebration of all kinds of love. The National Retail Federation observed that American shoppers spent on an average $27.79 on gifts for other family members. Include presents for parents, siblings, children and friends. You can look at creating hampers for family members and friends.
- A couple’s day together would be a good idea. See how you can collaborate with your network to create an experience rather than a physical gift. Explore options like a spa day, an adventure day, fitness day, or luxury day (think Audi and champagne).
- Don’t forget the smaller cities and towns. They are catching up with their metro counterparts in celebrating the day of love.
Ashish Chandani, CEO and co-founder of Giftease.com says, “Valentine’s Day celebrations are no longer just a metro phenomenon, it has taken root even in the tier-II and tier-III towns. While flowers and chocolates have been all-time favourites, the largest growth is in the customised gifts and naughty gifts categories.” So keep up the spark in the Tier 2 and 3 cities.
- Promote yourself in the days that follow up to the 14th. Hold an ad campaign in social media and announce your deals well in advance.
- Keep a special place for the late comers. There might be several people who might forget to plan and shop in advance and might need to pick something up last minute. Ensure that you have a deal that you can put together in a day or two. Don’t forget the logistics. No point in sending V-day presents after the 14th. Split your deliveries among three or four logistics partners.
Now that you have a good idea on what to look for in your V-day shoppers, get set, update your site and app, keep the logistics partner up to date, and stock up your warehouse. Let us look forward to another ASSOCHAM study that says V-day 2017 sales have broken all records.
If you want help managing your ecommerce business, come to Browntape. We are India’s largest ecommerce service provider, and we are happy to help!
