Market relies on this occasion for
flowers, jewelry, beauty products, and gadgets
Occasions and holidays are often considered as market boosters. Valentine’s Day is one of these market drivers, as it comes in the middle of a season known for its low activity, especially as it follows Christmas and New Year’s.
Flowers, jewelry, gadgets, and beauty products top the list of Valentine gifts. According to Karim Hammoud, Shop Manager of Vert et Ciel, a flowers shop in Beirut, activity this season is so far better than the previous year. “Generally, florists rely on Mothers’ Day and Valentine’s Day, beside weddings,” he said.
He said that shoppers with limited purchasing power buy one rose and could add a gadget or a teddy bear. Shopping for Valentine’s Day bouquet could average between $50 and $100. “A rose this season costs LL10,000 and the dozen is for $40,” he said. Hammoud said that in off season, he averages about ten customers, but on Valentine’s Day, this number reaches 100.
Beauty products are also popular during this holiday. According to Mireille Mechleb, Boutique Manager of ABC Beauté, Downtown, perfumes are top-sellers of the season. “Our sales witness over a 30 percent boost on Valentine’s Day.” She said that people began purchasing their gifts in early February and the activity will pursue until the 14th approximately.
This occasion is particularly beneficial to jewelers. According to Elie Nassif, Sales Manager at Antoine Saliba Jewelry, Valentine’s Day is seen as a high season. “Our season cycle includes Christmas, Valentine’s Day, Mothers’ Day, and weddings. On Valentine’s Day, our sales are generally boosted by 50 percent,” he said.
Gadgets are also driven by this day. “We are doing well so far,” said Rima Idriss, Shop Manager of Hallmark-Hamra, “but not as well as last year.” She said that the activity during Christmas is a 30-day exercise, but Valentine’s Day activity only lasts about a week. “The average budget spent is $50,” she said.
Date Posted: Feb 13, 2015