Shopkeepers make high profits on Valentine’s Day

Competition leads to more discounted products.

KARACHI: Valentine’s Day is not a special day just for the loved ones. It is also a time for roaring sales for shopkeepers and florists. This February 14 was no different as many traders saw an average increase of 20 per cent in sales.

However, interestingly, unlike previous years when prices of popular gift items rose significantly, this time shops offered heavy discounts on them. The Express Tribune conducted a short survey in Karachi of some branded and local shops to find out the sales trend this year.

Most shopkeepers said that popular gift items such as perfumes and jewellery for women and formal attires and accessories such as wallets, key chains and ties for men were top sellers. They said that prices were lower this year due to competition. “As the trend of celebrating Valentine’s Day picks up and more and more elaborate preparations are made every year, traders engage in a more fierce competition to attract customers,” Hammad Sultan, a shopkeeper selling gift items said.

Annie Akram, a sales representative at Park Towers, said that while women did most of the ‘impulsive and instant’ shopping, men placed orders in advance for gift items. According to her, customers were ready to pay from as low as Rs500 to Rs10,000 for her products, which comprised special hand-made towels with messages expressing love embroidered on them.

Suleman Mian, another trader said that more orders came in this year for designer gift baskets compared to previous years.

Sales representatives of several outlets selling branded items said that they offered special discounts ranging from 30 to 70 per cent, which has been a hit this season. They said that people had started flocking their shops to purchase gift items from at least a week in advance.

Meanwhile, florists said that Valentine’s Day is the most profitable day for them since their profit margin multiplies 200 to 300 per cent. Single, long-stemmed roses normally priced at Rs20 to Rs30 were sold for Rs100 to Rs150 on the day while bouquets were priced for a minimum of Rs300.

Published in The Express Tribune, February 15^th, 2011.