Let’s hear it for Valentine’s Day. Half of retailers surveyed by IFPA indicated Valentine’s Day 2023 exceeded sales expectations. Only 11% of retailers indicated sales were below expectations. Sixty-seven percent of retailers expressed that traffic was up.
While retailers agreed that Valentine’s Day was successful, they also agreed that consumer purchases were late – Monday and Tuesday. Sharing the weekend with Superbowl created competition for store space in some instances. There were less issues with the cost and getting product than in 2022 yet labor remains an issue for retailers.
Over 50% of retailers reported that roses performed well. A quarter of retailers reported arrangements performed well. Bouquets and consumer bunches lagged a little.