How to make money at Valentine’s Day

Heart For years, jewelers have been looking for a solution to Valentine’s Day in the hopes of getting it in the ballpark of Christmas sales. Those who have succeeded realize a few key things:

1. V-Day is a $50 to $200 holiday. That’s it. You will get bigger sales, but you should shoot for those price points. That’s the sweet spot.
2. V-Day needs to be promoted heavily. It’s one of those holidays where the majors will be advertising like crazy. You need to be in the game. Hint – If the majors are marketing it, there’s profit to be had out there.
3. You need to make it easy for men. Some of the best promotions feature flowers, dinner, chocolates and other things such as teddy bears. Guys love a one-stop-shop that makes them look like a hero.
4. V-Day is practice. Treat it like you’re training young men to walk through your door and introducing them to your store. If they love the experience, they will be back for the engagement ring. Also, once they find a good jeweler, they will not be likely to shop around.

Once you realize these key points about Valentine’s Day, you can create an action plan to make it profitable. It will never likely come near Christmas, but it sure can be a nice boost in cash flow for the spring.

Posted on by Jimmy DeGroot Posted in Blog

One Response to How to make money at Valentine’s Day

Add a Comment

You must be logged in to post a comment.