V-Day sets companies' cash registers ringing - Times of India

V-Day sets companies’ cash registers ringing – Times of India


NEW DELHI: Businesses are starting to hit the sweet spot with Valentine’s Day. From gifting red roses and diamond earrings to heart-shaped Truffles and Apple watches, lovers are leaving no stone unturned to spice things up this season.
“In February, which is a Valentine month, we are witnessing a growth of 40% compared to last year,” said Paritosh Bindra, AVP — category at Ferns N Petals. “We expect to clock more than 4. 75 lakh orders with Rs 55 crore revenue.”
To tap into the demand, cafe chain Starbucks has unravelled a new range of coffee, pastries and sweets with a tinge of romance such as heart-shaped truffles and red velvety lattes. Even chocolate maker Mars has beefed up its online portfolio with products that say ‘I love you’.
“Valentine’s Day has positively impacted the chocolate category,” said Varun Kandhari, marketing director at Mars Wrigley India. “With the launch of our digital-first portfolio comprising gift packs for the occasion, we are noticing a significant growth in our ecommerce channel as well. ”

Page-21 Graphic-5

Similarly, consumer electronics retailer Vijay Sales has announced discounts on Apple products in the run up to V-Day, while sportswear giant Nike is urging lovebirds to work out together with a new range of apparel and footwear. Tata’s Tanishq, too, is speaking the language of love with a brand new Valentine’s Day jewellery range.
And the show of love is not limited to metros. On Meesho, for instance, the demand for sexual wellness products, among other things, shot up by 57% in the weeks leading to February 14 with twice as much orders coming from cities such as Visakhapatnam, Guwahati, Agartala, Bhubaneswar, Vijayawada compared to metros.
“We have witnessed a 1. 5X rise in orders as people set out to celebrate Valentine’s Day,” said Utkrishta Kumar, CXO, business at Meesho. “It is interesting to see 80% of this demand emerging from tier 2+ cities. ” And it’s not only retailers and brands that are trying to woo the lovelorns. Five-star properties such as those belonging to Taj Hotels have sprung a Valentine’s Day surprise for guests with complimentary romantic experiences. Breakfast the next morning comes on the house, of course.


Source link

Leave a Comment

Your email address will not be published.