Valentine’s Day is coming to town…

Valentine’s Day spending is expected to reach over $18.6bn in 2013

Valentine’s Day spending is expected to reach over $18.6bn in 2013

“All you need is love. But a little chocolate now and then doesn’t hurt.”
Charles M. Schulz

Love is in the air as Valentine’s Day is getting closer, it is just one day and the big craziness will start. Retailers are gearing up heavily for Valentine’s Day as it means more business for them. Indeed, flowers, chocolates and jewelry sells like hot cakes. The National Retail Federation estimated that Valentine’s Day spending would amount to about $18.6 billion in 2013. Certainly, some of florists and boutiques will see sales going crazy on the 14th of February, but there will be companies which will not see surprising increases in their results.

Sales on Valentine’s Day

One proverb goes that Love is blind and maybe it is truth, but while the feeling is blind, it pushed those in love to make purchases for their beloved. And as some may consider Valentine’s Day purchases a romantic gesture, others may regard them as a practical way of securing the affection. Whatever reasons are for Valentine’s Day purchases, florists, candy shops and jewelry stores are rubbing their hands as they are thinking about sales. Retailers are gearing up for one of the busiest days of the year by employing seasonal workers. Some retailers have already noticed high increases in preorders. Retailers hope that the Valentine’s Day spending and purchases will pick up as economic conditions have already improved.

As retailers underline, the Valentine’s Day sales will be the biggest on the 14th of February, but also after the holiday they expect some absent-minded people come and make some purchases, so extra sales are to continue. While businesses are gearing up to Valentine’s Days, analysts note that florists have employed extra workers, including drivers, which is nothing surprising for that part of the year. What is interesting is that Valentine’s Day is not the busiest holiday for florists, but Mother’s Day. However, there are some retailers who will see their sales decline due to growing competition from grocery stores and other retail outlets.

While the most popular choices for Valentine Day’s present are flowers, chocolates (candies) and jewelry, there is one new surprising trend. A survey, which was conducted by the Society of American Florists, showed that slightly over 40 percent of consumers bought red roses for 2010 Valentine’s Day from a year earlier. The decreasing sales of roses on Valentine’s Day are shocking as red roses used to be considered a symbol of love. Analysts note that the meaning of red roses has changed and it is reflected in decreases in sales.

But not only florists will benefit from Valentine’s Day spending and purchases, also candy shops and jewelry stores are waiting for the holiday. Once Charles M. Schulz said: “All you need is love. But a little chocolate now and then doesn’t hurt,” and those in-love very much obey the rule.

Jewelry stores note that they expect also increased sales as Valentine’s Day opens an engagement season. So engagement rings with diamonds and other gemstones will be widely sought.     

Valentine’s Day – Extortion Day

Jay Leno said: “Today is Valentine’s Day – or, as men like to call it, Extortion Day!” And maybe there is a grain of truth in the opinion as the National Retail Federation estimated that Valentine’s Day spending would amount to approximately $18.6 billion in 2013. According to research, the average American would spend as much as $130.97 on chocolates, flowers and other gifts, including jewelry, compared to about $126.03 spent in 2012.

Other surveys showed that Valentine’s Day might see increases in sales ranging from 5 to 10 percent. Therefore it is not surprising that retailers have been gearing up for Valentine’s Day sales as the holiday is regarded as a goldmine.

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