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Feel the love this Valentine

 

 

Feel the love this Valentine's Day and get passionate about profits!

Holy cow! I just read that Valentine's Day is America's most gifted holiday next to Christmas. Is anyone else as surprised as I am? This Christmas has been flat out here in the SaleHoo office, dealing with all that comes with Christmas, and making plenty of Jolly Season sales, but I thought I would take a few minutes to tell you guys how excited I am that another money-making holiday is just around the corner, and let you in on a few ideas for making this Valentine's Day just as profitable (if not more profitable) than Christmas! 

Why I'm thinking about Valentine's Day in early December

Although Valentine's Day isn't until February 14th, as with all seasonal and festive-related product-sourcing, it's crucial to get prepared early. As you know, coming up with a few ideas for items to sell, researching whether they will be profitable, and finding a new supplier takes time, so it's well worth it to get in early, and give yourself as much time as possible.

One more reason why I am thinking ahead right now is because this Holiday Season, my business has been doing very well, and with all the sales coming in, I want to invest in more stock for 2010 (rather than spending all my takings on Boxing Day sales!).

Why Valentine's Day is worth the investment

As I said, it comes second only to the big daddy of all festive holidays, Christmas, giving it huge money-making potential! Here are a few stats I found from a survey that Discover Card conducted on Valentine's Day spending to really get you convinced:

  • Men expect to spend an average of $127 on their ladies, and the ladies $74 on their men. Plus, people also intend to give gifts to teachers, friends and co-workers.  
  • Last year, Valentine's raked in 905 million in online sales
  • Nearly 40% of all surveyed who planned to buy Valentine's gifts intended to buy them online

Also, as February 14th falls on a Sunday in 2010, the usual flowers sent-to-the-office won't cut it, and buyers will be looking for gifts instead!

What sells best for Valentine's Day?

All the obvious stuff like:

  • Lingerie,
  • Jewelry,
  • Candles
  • Oversized teddy bears and stuffed toys with cute messages
  • Perfume and cologne
  • Cards

All these will be big sellers, but will also be highly competitive. To make sure you can measure up with your competition, you will need to find a supplier with great prices and buy from them in big bulk to get the best price possible.

To really find your niche, go beyond these common items and consider some new ideas that will be big sellers in 2010.

  • Gift baskets with chocolates and candy or Valentine's boxes filled with candles, massage oil and a Barry White CD. These are easy to make up and give your buyers the feeling of added value, all because you wrapped it in some cellophane and put pretty bows around them
  • Sexy costumes (if you get in early, these may still be on sale from post-Halloween clear-outs)
  • Gifts for men such as neck ties, DVD series of TV shows, and performance car parts, grooming sets and organic male skin care, bar sets and cocktail shakers
  • Men's jewelry such as heavy gold chains, watches, and solid men's bangles
  • Golf clubs and accessories such as balls and bags

Things to keep in mind when it's time to start selling

According to that same survey by Discover Card:

  • 65% would make their purchase one week before February 14, so your delivery will have to be prompt! Offer Get It Fast on eBay which condenses the buying process for buyers, and gets them their item faster
  • 39% of women planned on spending nothing on their spouses, so remember to appeal to a largely male market and keep in mind that marketing theory tells us that generally speaking, men prefer coupons over sales.

As busy as you are right now with Christmas just a few weeks away, it's so worth it to take some time and start putting together a plan for your Valentine's Day selling for 2010. If you are serious about making some money this Valentine's Day, aim to make a budget and start looking for possible suppliers. If you are currently flat-out with Christmas sales - and everything else that comes with this time of year - don't panic, if you get started in early January, you can still make Valentine's Day 2010 a profitable one!

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