News
How to Make Your Customers Swoon Over Your Blooms! Tips and Tricks for Valentine’s 2024
December 12, 2023
As we approach Valentine’s Day 2024, the collective flower, plant, and hard goods industries have a special opportunity to maximize flower sales right out of the gate during the first major holiday of the year! Thoughtful preparation, festive atmospheres, fresh products, and impeccable service will attract customers and optimize their entire shopping experience.
So here we are – it’s December 2023, and the race has already started. Here are some important business strategies to help maximize sales during one of the most critical weeks of 2024:
Sales Budgeting
A simple SWAG (scientific wild a** guess) method of selecting a rote sales increase based on an annual figure doesn’t work. Budgets for a holiday — especially one of this magnitude — must be calculated with acute detail, factoring in the following components:
- What were your base Valentine’s Day sales in 2023?
- Were there any weather or product shortage anomalies in 2023 that likely will not recur in 2024? There may be some upside in 2024 as a result.
- What is your corporate budgeted sales increase? Can you exceed it while maintaining strong profitability?
- Are there any factors that will cause a non-organic sales increase in 2024, such as remodeled stores, new stores, retail increases, larger floral footprint, etc.? Factor in those changes.
- Are there any factors that will cause a non-organic sales decrease in 2024, such as store closings, reduced retail, less labor, a smaller floral footprint, etc.? Factor in those changes.
- Sales dollars alone don’t tell the whole story. Be sure to calculate and budget anticipated customer count, retail sales per customer, and total units by category.
- Building budgets by individual SKU, rolling them up into each individual store budget, and then rolling it all up into a total company budget will create the most accuracy and will also provide a better foundation for financial tracking as Valentine’s week progresses.
Gross Margin Budgeting
Gross margin budgeting is the money that’s left over to pay the bills after product is sold, and it is the determining factor between running a profitable business versus running a bankrupt one. How is gross margin calculated? Sales – Cost of Sales = Gross Margin Dollars. The three most essential factors in budgeting gross margin are your final sales budget, your final cost of goods, and your inventory variance.
Product and Inventory Planning
Placing the right dollar amount of product in each store is the only way to achieve your planned sales and profit goals. If there’s not enough product in-store, you simply won’t meet your sales goal. Once SKUs and budgets are planned by individual store, it’s imperative that store associates understand and have access to those detailed plans and order products accordingly.
Be sure to also factor in a normal amount of shrink so that as product becomes outdated, there continues to be enough on hand to achieve the target sales goals. In addition, sudden changes in inventory levels can wreak havoc on financial stability. It’s wise to stagger product deliveries over the four weeks preceding Valentine’s Day, starting with nonperishables such as balloons, supplies, containers, and upgrade accessories, and then…finishing the delivery cycle with shorter shelf-life products closer to the holiday itself.
- Plan for a variety of flower types and colors in stock to appeal to different tastes.
- Provide customers with special deals and discounts leading up to Valentine’s Day as an incentive for them to familiarize themselves with your shop.
- Consider running some creative “combos” or gift packages that include chocolates or other items along with your floral arrangements.
Store Design and Layout
Design an inviting storefront and store layout: Make sure to have colorful displays in the window and/or in front of the department that will show off your unique assortments and engage customers to want more. Top off each display with good lighting, festive signage, and upscale enhancements to catch customers’ eyes.
Marketing Strategy
- Promote your shop utilizing local advertising methods such as flyers, newspaper ads, and local radio spots.
- Make sure to also take advantage of online sources like social media, websites, and online ads to reach a larger audience.
- Educate customers on different flower types and their meanings. Share creative vase ideas for Valentine’s Day bouquets and how to make them truly unique.
- Spend some time and money developing a website for your flower shop with an e-commerce option so people can order directly from you online. It’s also important to get set up with social media accounts on Facebook/Instagram, etc., to showcase your offerings and promote specials/discounts.
- Target local businesses: Reach out to some local businesses who may want to purchase bouquets for their employees or offer special gift packages for their members/clients.
- Take part in local events such as farmers’ markets or flea/craft/art markets near your flower shop.
- Utilize a mix of online and traditional advertising methods such as placing ads on local radio stations, running digital banner ads, and sending out mailers or even buying TV ad space.
- Utilizing check lane fliers, in-store signage, outside A-frames, employee badges, and more offer excellent opportunities to tout the holiday.
- Don’t forget to add a compelling Valentine’s Day banner to the homepage of your company’s website, with a link to your e-commerce ordering portal. Simply ask the marketing team to add a “ticker,” “screen crawler” or “tag line” to the company’s current TV/radio ad promoting your hottest Valentine features.
- Quick Tip: In every piece of marketing collateral (website, signage, social media, etc.), always include the following:
- Image, item, and price.
- The reminder: “Valentine’s Day is Wednesday, February 14!”
- Icons for any social media sites on which your company/store will be interacting.
- The website address of your e-commerce floral portal.
- The location address of your brick-and-mortar shop
Expanded Real Estate
Pop-up stores have become more than a trend. They’ve become a bonafide way to add additional revenue streams to your core business. A pop-up store can be as simple as an outdoor selling space or tent structure, all the way to a space in a local shopping center, airport, restaurant, or coffee shop. With all of the new mobile credit card readers out there, opening numerous pop-up stores is easier than ever.
- Quick Tip: Have you tried organizing a fleet of flower vans to serve as “pop-up stores” waiting at the exit of each of your city’s major office buildings? Renting panel vans is relatively low cost and, when drivers are armed with mobile credit-card readers, these “pop-ups” can become huge cash cows on Tuesday and Valentine’s Wednesday. Be sure to check your city’s ordinances for potential permits needed.
Timing is Everything!
The National Retail Federation tells us that 40 percent of Christmas shopping begins right after Labor Day, so launching your Valentine’s Day marketing collateral immediately after Christmas is not too soon!
With the Valentine’s holiday holding court as the first or second largest sales week of the year …and generating 30 percent to 40 percent of the year’s total holiday dollars, it’s safe to say that a successful Valentine’s Day in 2024 will be a crucial component of organic growth across the entire industry.
Aside from all the budgeting, marketing, and planning, the best way to a customer’s wallet is to focus on the feeling s/he gets when s/he’s face-to-face with the flowers!
For more resources to make sure your team is ready for Valentine’s Day, check out our FREE Care & Handling poster and order yours soon so it’s there before the big day!
