Gifting companies witness soaring sales, chocolate charms dominate hearts in Valentine’s Week
Amidst the end of Valentine’s week with heartfelt expressions and romantic gestures, gifting companies and brands have witnessed impressive growth in their sales compared to last year.
The brands are expected to report the skyrocketed number of sales by the end of today.
“Our expectations for Valentine’s Day are high as we anticipate a 2X increase in orders, reflecting a remarkable 100 per cent growth compared to the previous year. Notably, we are experiencing a 2X surge in demand and sales. This trend is evident right from the start of Valentine’s week, with a staggering 20X increase in demand for roses as Rose Day approached,” Tarun Joshi, CEO and Founder, IGP.com.
In addition, the gifting brand Archies is also anticipating robust demand and sales this year, surpassing the figures from the last fiscal.
Varun Moolchandani, Executive Director at Archies revealed that the response from both online and offline channels has been overwhelmingly positive.
“In comparison to the previous fiscal year, we are optimistic about achieving a growth of over 30 per cent,” he said.
While many products have witnessed increased demand, it’s evident that day-centric items are particularly popular, Joshi highlighted.
“For instance, as Chocolate Day approached, there was a 50 per cent increase in demand for sweet treats to gift to loved ones, and on Teddy Day there was a 50 per cent surge in purchases of teddy bears,” he emphasised.
Apart from ‘day-centric’, one item was on everybody’s list throughout the whole of Valentine’s week; the enduring sweetness of chocolate.
Furthermore, FNP, another leading company in the segment has seen a 25 per cent surge in sales as consumers were drawn to chocolates that offer a refined and distinctive taste experience.
“There has been a growing interest in premium and luxury chocolates, with consumers eager to invest in exquisite treats for their loved ones,” said Pawan Gadia, Director and Global CEO at FNP.
Additionally, chocolates adorned with floral arrangements like chocolate bouquets were a hot favorite among customers, adding an extra touch of elegance to the Valentine’s Day celebrations, he underlined.
Chocolates contribute 7 to 8 per cent of FNP’s total sales and by the end of Valentine’s week, it anticipates this figure to grow to 12-15 per cent
Valentine’s week starts on Rose Day (7 February) and ends on Valentine’s Day (14 February). This week includes, Rose Day (February 7), Propose Day (February 8), Chocolate Day (February 9), Teddy Day (February 10), Promise Day (February 11), Hug Day (February 12) and Kiss Day (February 13).
