Companies are wooing customers to spend as they dangle enticing offers on Valentine’s Day with an eye on tapping into the lovers’ holiday to increase revenues.
Some of the businesses offering their customers a chance to grab coveted items at more affordable prices include e-commerce firms such as Safaricom’s #ticker:SCOM Masoko and Jumia, bakery Valentine’s Cake House, clothing store chain Woolworths, ride hailing firm Uber, pizza chain Dominos, Standard Chartered Bank #ticker:SCBK and Commercial Bank of Africa (CBA).
According to some of the firms that spoke to the Business Daily, Valentine’s Day offers are an opportunity for them to attract new customers and impress loyal clients and gain their trust.
“Every sale should be able to guarantee you a return customer who wants to come again. The sale may have a downside when it comes to the revenue but then again all we are trying to do is create a business that is not just short-term but long-term,” said Valentine’s Cake House operation manager Felix Ndirangu. For e-commerce firms, the sales result in an increase in revenue as well as the size of clients they reach.
“Over Valentine’s week, we see an increase in the purchase of high value items as people buy things that they can gift their loved ones. It benefits as volumes and the value of items sold grows,” said Safaricom head of e-commerce Sharon Holi.
A major driver of sales during the Valentine’s period is convenience. In the urban space where work commitments are constraining, many businesses seek to present themselves as one-stop shops through partnerships with relevant firms.
Jane Mbugua, who sells flowers at City Market, said that although she does not offer lower prices for her flowers during Valentine’s Day, she includes in the package a card and a Teddy Bear. The result is that she makes more sales on Valentine’s Day than any other day. For Valentine’s Cake House, a package includes a cake, flowers, wine, chocolate and even a barber shop visit.
Clothes retailer Woolworths alerted its customers that they could get up to 30 percent off any two selected lingerie pieces from its stores tomorrow.
Ride hailing firm Uber opted for a unique take on the day, saying it had partnered with Nestle, The Wine Company and other providers to gift a Valentine’s Day package to single Kenyans that includes drinking chocolate, vodka and other goodies.