Dear jewelers, welcome to your favorite time of the year! With February beginning tomorrow, you are undoubtedly preparing for the rush that comes with Valentine’s Day shopping. You don’t even need to be part of the jewelry business to know that the next two weeks mark a very busy time of year for the industry. Needless to say, jewelry is right up there with chocolates and flowers as the most popular of all Valentine’s Day gifts.
As well, it goes without saying that jewelry make up the most precious and sentimental of all gifts that celebrate romantic unions. So while you may assume that foot traffic is bound to pick up in your store over the next couple of weeks, it’s incredibly important not to take anything for granted. It’s best that you prepare your jewelry store for Valentine’s Day as best you can.
Stock up on your most popular Valentine’s Day items.
Making sure you have enough supply to meet the demand is never more important than at this time of year. What have been your biggest Valentine’s Day sellers in past years? Make sure that you have ordered all of the most-likely-to-be-sold pieces in time for the special occasion. The last thing you want is for your customers to be disappointed to the point where they go to your competition for their gift-buying needs.
“Ensuring that you have the inventory to meet the demand of your customer base is crucial to your jewelry stores’ success during the Valentine’s Day rush,” writes Danielle Wegert on MultiBriefs.com, “If you are not prepared, you will not have enough supply to meet all of your customers’ expectations, and they will take their business elsewhere. Just like any other holiday, many customers wait until the last minute to purchase their gifts, which will not leave time for you to order more inventory before the holiday.”
Prepare to cater to millennials.
It can be argued that young people are the world’s biggest Valentine’s Day shoppers. There’s nothing quite like “puppy love” to get people to bring out their wallets to commemorate that special day with their partners. Studies have actually shown that millennials are among the biggest spenders for the Valentine’s Day occasion. The 2015 National Retail Federation’s Valentine’s Day Consumer Spending Survey found out as much.
“The largest spending age group is predicted to be 25 to 34 year olds, who will shell out approximately $213.04 on the holiday,” reports Barbara Thau on Forbes.com about the survey, “By contrast, 35 to 44 year olds will spend about $176.21. This is somewhat surprising, as many Millennials have yet to come into their most fertile years of earning power, yet they plan to spend more than their older counterparts.”
Host a Valentine’s Day soirée.
Valentine’s Day offers your jewelry store the perfect opportunity to host an in-store event. Doing so will entice your current customers to choose your store for their gift shopping over your competitors. At TK Enterprises Inc., our one-of-a-kind Event Marketing services are designed to get your customers to come to your event. Put our experienced team of phone agents to work for you. We’re experts at offering exclusive invites to in-store events. It’s a strategy that works!
For more information about our Event Marketing services, please don’t hesitate to call us toll-free at 1-877-622-0195. You may also email us at heidi.tke@tomkaufmann.com or fill out the form on our Contact Us page and have someone contact you!