Last year Americans spent $19.7 billion on Valentine’s Day gifts, and men outspent women by about 2 to 1. Valentine’s Day is a big deal in the retail world, and there’s plenty of opportunity for small businesses to take advantage to boost otherwise sluggish post-Christmas sales.
Since men are the biggest spenders in February, it’s a good idea for small business to make shopping of the big day as easy as possible. By packaging your products and services into clever, Cupid-inspired promotions, business owners take the work out of designing a romantic Valentine’s Day gift. Provide the creativity as part of the deal, and there's the potential for making a loyal customer for life – especially if she’s impressed!
Try these promotional ideas to get the creative juices flowing in time for V-day celebrations:
Two-for-the-Price-of-One Couples’ Specials
Offer a Prix Fixe Meal – or Deal
Recent market research has shown that millennials are increasingly prioritizing experiences over objects, making it challenging for traditional businesses that sell goods to appeal to younger buyers. Capitalize on this trend by offering customers a look at the inner workings of your business. Restaurants and bakeries can offer a couples’ cooking class on an evening near the big day; craftspeople can run a similar program detailing how to build a bouquet or knit a scarf.
Depending on the business, it may make more sense to offer a demonstration night to show off the skills it takes to make those craft brews or handmade jewelry. Add cocktails and hors d’oeuvres to make it an evening to remember.
Shopping small and local is making a comeback, and small businesses can appeal to conscientious buyers by creating a promotion with local flair. Some basic market research can provide insight into what people in a region are looking for when it comes to romantic gifts; turning to Google or a map of Valentine’s Day search terms can also be revealing. Teaming up with other nearby vendors to create a gift basket of local favorites can be a win-win way to approach the season as well.
Just Add Flowers
Try a Giveaway as a Romantic Prize
The Bottom Line
With the potential for big sales around Valentine’s Day, it would be practically criminal to pass over the opportunity to bring in customers with a great new promotion. The only question is what type of promotion to choose, and how creative to get with the Valentine-themed puns. Even small businesses selling relatively unromantic products and services can get into the act with a sense of humor, so there’s no time to waste in launching that great new holiday promotion this month.
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