The news is out: Valentine’s Day spending is set to increase this year, according to an article from the ICSC.
Love will cost about $103 on average this year, up 3.3% from last year. Those gains, however, will mainly be made in restaurants, where consumers are expected to dine out at higher levels, according to the article.
Both men and women will decrease spending on each other, but will increase spending on friends and pets.
Rather than espouse about Valentine’s Day and what retailers can do, I am referencing a post from last year that talks about breaking the mold of typical Valentine’s Day gifts by telling your customers what they should be doing for Valentine’s Day, then providing the goods to help them achieve it.
This year, use fresh merchandising ideas that break away from the usual formula for Valentine’s Day. Read Uh-Oh! It’s Valentine’s Day to learn more.
You’ll be surprised when you say, “one of the trends I’m seeing this year is…” and the customer responds with, “wow, that’s really a cool idea.” You make the sale. The customer walks away feeling like they’re in the know, and are are the coolest, hippest thing around.
How are you driving sales this Valentine’s Day?
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