Focusing solely on couples for Valentine’s Day misses a potential business opportunity to market to singles, according to market analyst HVS.
While the service industry typically views Valentine’s as a huge opportunity to cater for loved-up couples, the report suggests ways in which to tap into the less obvious singles market.
The US-based research suggests encouraging family activities or hosting special singles-only events to encourage those on their own to dine out alone or with a group of friends.
Another idea is to use Valentine’s Day as a forum to market the idea of self-love and self-acceptance – by encouraging shopping for one’s own Valentine’s gift or special treat.
Organisations can also help by arranging extra curricular charitable works by employees – who donate time and creativity as volunteers helping other less fortunate people - or by arranging sponsored talks or seminars.
Finally, it advises, operations should offer a range of differently priced products and services.
Authors of the report, James Houran and Mark Keith, conclude: “For hotels and restaurants, sensitivity to these issues can be simply not turning all your bars and restaurants into shrines to romance and love. Instead, reserve some space and attention for those not with a loved one.”
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Published by: The Caterer