Consumers are at their irrational best. The ones in love. Marketeers not just make a killing with greater quantum of sales, but also garner greater value per purchase. Take Lifestyle retailers in India for example. To cash in on the 'love demand', watch makers Titan, Timex, Christian Dior and Tommy Hilfiger have unveiled exclusive Valentine's Day collections. Titan has introduced the 'Spell collection' for women and 'Octane' for men. Similarly Timex has introduced its 'Torque' collection for men and women, available in 21 styles.
Spending on gift items including cards, flowers, jewellery, chocolates, mobile phones, MP3 players and wrist watches is likely to touch Rs. 3000 crores this Valentine season as against 1400 crores a year ago. On an average, the spend on V-Day gifts is between Rs. 1000-Rs. 10,000 per person. Keeping this rising demand in mind, gift manufacturers have upped their production volumes by almost 30 percent.
Love sure sells.