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 Wednesday, February 14, 2007
Valentines & Favors
Posted by Beth

Mother Nature certainly isn't showing any love to retailers this Valentine's Day.

When I woke up this morning ice was falling from the sky- little pellets that look like the stuff you put into bean bag chairs. It's so bad that from the Midwest, East, companies were forced to close for the day or at least let employees work from home.

Of course if you're in the craft industry you could look at this icy mess as a blessing in disguise. After all, snow days, particularly the messy ones where sledding isn't any good or the wind chill factor is too intense, call for family crafting. In my house it was dad who got to pull out the paints and foam stickers, an activity that I am sure was repeated in households across the country.

I  must have the heart of a retailer because even as I was looking at the pristine blanket of bright snow, all I could think of were the retailers who depend on Valentine's Day to make their first quarter. The florists that have been working 24/7 for days. Or the candy shops who won't have another big season until Easter. My heart just goes out to them.If only the snow could have waited two more days!

I think Valentine's Day is one of those occasions that our industry doesn't capitalize on enough.The cardmaking opportunities alone are immense! Most every grade school child has a party at school that day. Cards and treats are part and parcel of the celebration. In more and more cases though, schools are asking for non-candy treats.

Of course I wanted a craft product solution for my son's Valentine's Day Party and ended up with a little rubber stamp set with small stamps and an inkpad. Very cute, not too girly and fun for snowy days like today. But there weren't many choices of little gifty things in the one dollar range ( I needed 24 and it sure adds up when your preschool celebrates everything under the sun).

It got me thinking. Parties for kids are a big deal and now goody bags aren't just an add-on, they're expected. And let me tell you, the kids compare goody bags. The whole party favor thing (birthday or school party) could be a great year round niche for a retailer. Look for items that you can resell for $1 or less, you need things for boys, girls and both. Stickers, paints, brushes. novelties, jewelry, totes- things that have value compared to other things found in the party favor aisle.

You'll need easily accessible bins of each and they need to be well-stocked because parents will need quantities of a half-dozen or more. This is where you can take advantage of promotional goods. There's no reason why you have to have refillable items- when they're gone they're gone.

Then you need to advertise it ALL the time so people think to come to the craft store instead of the Dollar Store.

Having a party favor endcap may create some traffic with non-crafters who you can upsell with seasonal merchandise or home decor products. It must work, Target puts their bins at the front of the store.  $1 is a nice round number when it comes to favors..... if you could keep that product turning it will become a destination area for customers of all ages.- Beth



2/14/2007 4:32:13 PM (Eastern Standard Time, UTC-05:00)  #  
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