As the the month of February starts, the gifting items and valentine’s day products create a surge in stocks. The management and processing of orders, inventories, and selling gift items during Valentines becomes an art. Increasing sales and earning more profit can be made easier by proper inventory management.
Lets get insights of some of the startups selling Valentine’s Day products and how they manage inventory to increase their sales and boost their business growth.
Whitecub
When we started WhiteCub over eight years ago, it used to be only Valentine’s Day at our place. Fast forward to a few years, it evolved into a full Valentine’s Week, and now our brand typically celebrates the entire month of February as Valentine’s month. That is why this year, we have specially curated Valentine’s Gift Box of hazelnut cashew & chocolate spread, fresh strawberries; this is because of a specific reason. Our Target Customer base is health-conscious people who do not want to compromise on their health even during celebrations, so we have crafted a perfect match of our healthy yet equally yummy Hazelnut-Cashew & Chocolate Spread (which has no preservatives, added oil, and is sweetened with unrefined sugar) and Fresh Strawberries. We have intentionally not opted for the stuff overloaded with sugars or Harmful Chemicals because we firmly believe that our customers express love for each other and their loved ones. Their health should also remain our top priority.
Our second line of Valentine’s Day focuses on gifts straight from our Ice Cream line. We have a full range of chocolate flavours (Sinful Chocolate, Belgian Chocolate, Chocolate Factory, Choco Heaven, Forest Bathing etc.) and, of course, our very popular Strawberry Crush ice cream. We have our dedicated customer base for our products all the year along. The main segment of our gifting options comes from our regular product lines, Valentine’s Day is no exception. In spite of our extremely hectic working hours during festivals including Valentine’s Day, oOur inventory gets managed very well, mainly because of three factors.
Our main proportion of our gifting segment comes from our already existing product lines.
We include 3rd party delivery options like WeFast, DTDC etc especially during this time period.
We also undertake customized order productions
The Baker’s Dozen
We look at the sales of the last one month for all the products that we are looking to promote on Valentine’s and then project the demand based on that data, keeping a certain % of buffer of course. Managing orders is based on our standard operating procedures, and is a by-product of the forecasted demand. Therefore the crucial part of all of this is the ‘demand forecasting.
Valentine’s Day is a special moment for us. Every time a customer picks a Zouk product to gift to their partner, it means a lot. They chose us over so many options for this special moment. While our bags are chosen as gifts and we do see a spike in sales, this year we are focussing on Self Love too.
Oftentimes, we take so much effort and stress in finding the right gift for our partner that we forget to get something special for ourselves. So, at Zouk, we are nudging consumers to pick our cruelty-free, handcrafted product, just for themselves. So far, we are seeing good support and hope to continue saying this throughout the year.
We are not a gifting startup and we don’t hold inventory. So it’s not really been a problem but however, during high peak seasons, we do manage like a lot of these. For example, during Diwali, if we manage, we don’t manage inventory, but we work with the brands that he’s working with, and manage logistics extremely tightly, like basically speak to all our stakeholders including logistics partners and brands and sort of manager experience really tightly. We’re very cognizant of when collections go up on the website, go away from the outset so that no customer is left disappointed that their order doesn’t reach them on time. We give our all to make sure things reach everyone on time.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Happn.
Saw a guy on the street and liked him a lot? Seen a girl at the restaurant but did not have the courage to go forward and speak? This situation is not unknown to anyone. Often we find someone charming in that favorite restaurant, or someone so graceful at the mall, but feel shy and awkward to talk to the person at that moment, and unfortunately, we never meet again. But now situations need not be the same. Meet ‘Happn’, an amazing app that lets you connect to that handsome guy or that beautiful girl, you have crossed paths with.
Happn is a location-based dating app. The Happn dating app will help you to know the people in case you both have just crossed paths in real life. Let’s explore more about this app.
While there are several popular dating apps, what makes Happn special is its local feel. Through Happn, the platform’s founder Didier Rappaport wanted to give a touch of reality to the virtual dating world. In Happn, the people whom you connect to, work, live or hang out in the same place as you do.
Happn is a location-based mobile app. The concept behind Happn is that whenever a Happn user crosses paths with another Happn user in any location, each Happn user can see the profile of the other Happn user in his timeline. If both the Happn user like each other’s profiles, they can connect to each other. The app allows users who are mutually interested to chat with each other.
If you are a Happn user, you can connect to Happn Users within a radius of 90 kilometers from your location. The Happn Map lets a Happn user find out who are the other Happn app users who have visited the same places that he did, how many times they have crossed paths, and when and where the users have crossed paths. ‘Now’ written next to any user’s profile means the user is currently in your proximity. Users can also choose not to appear in the Happn Map if they wish to.
In case you have not crossed paths with any Happn user, you can still view profiles of users near you who match your preferences. The app also displays a note that you have not crossed paths yet, with the profile of such users who have never crossed paths with you.
Happn also lets you play ‘CrushTime’ which is a game, where you are notified that a Happn user with whom you have crossed paths that day has liked your profile. Now, you have to guess who liked your profile from the four given profiles. If your guess is right, congratulations, it’s a crush!. Features like sharing of playlists and songs from Spotify via Happn make the app even more interesting.
If you are wondering whether it is safe to use the Happn app, Yes it is totally safe. A Happn user can contact you only when you have liked his profile. Besides in case of inappropriate behavior, you can block the user and report it. The Happn app just shows the approximate crossing locations, and the users’ exact location is not revealed for security reasons.
In case you no longer want to use the app, you can easily delete the Happn account. You simply need to open the app, tap the account icon, go to account settings, tap ‘my data’, and choose the ‘Delete My Account’ option. You just need to enter a reason why you want to delete the Happn account, and the account gets deleted.
Didier Rappaport, Fabien Cohen, and Antony Cohen founded Happn in the year 2014.
Didier Rappaport was the CEO of Happn till July 2021, when he left the company owing to allegations of sexual harassment raised against him. Didier however denied the allegations. Didier is also a consultant in business development and web strategy and an investor.
Didier was the Co-Founder and the COO at Dailymotion, where he worked for over three years. He pursued his master’s in Economics from the University of Bordeaux.
Fabien Cohen left Happn in 2016 to co-found another business, while Antony Cohen left the company in 2019 to found ‘Sibeel’, which is a SaaS and mobile solution provider.
Karima Ben Abdelmalek is the present CEO and President of Happn.
Didier Rappaport, Founder, Happn Dating App
Happn – Tagline, Slogan and Logo
The tagline of the company is, ‘find the people you’ve crossed paths with.’
Happn Logo
Happn – Business Model & Revenue Model
Happn has a freemium business model. Users can download the app and use some features for free, while some premium features are paid. Features like Likes, dislikes, chatting is free in this app. But there are more interesting features like unlimited likes, flash notes, the ability to view the list of people liking your profile, etc, which require a premium subscription. In India, the Happn Premium charge is Rs 790 per month. The charge for the 3-month plan is Rs 1900 and the six-month plan costs Rs 2850.
In-app advertisement is also a major source of revenue for Happn. Premium subscribers can enjoy an ad-free experience.
Happn has raised a total amount of $22 million in funding over the 5 funding rounds.
Date
Transaction Name
Money Raised
Lead Investor
October 1, 2019
Venture Round
–
–
December 22, 2016
Secondary Market
–
–
October 1, 2015
Series B
$14 million
Idinvest Partners
December 10, 2014
Series A
$8 million
–
March 1, 2013
Seed Round
–
–
Happn is funded by 13 investors. Idinvest Partners is the most recent investor.
Happn – Growth
Happn has earned the trust and the faith of the users and is heading towards growth every passing day. Today Happn has over 100 Million users. 4.9 million messages are sent and received through the app every day. As per the company’s website, Happn attracts 1.5 million new users every month. The Happn App is available in over 15 languages and is available for download in over 40 countries and more than 50 cities across Europe, Asia, North America, South America, and Oceania.
Happn – Competitors
The top competitors of the company are OkCupid, Hily Corp., and TrulyMadly.
It is one of the greatest competitors of Happn. It is headquartered in Texas and was founded in 2004. This company works in the Application Software field.
Hily Corp.
It is also one of the top competitors of Happn. It is headquartered in Las Vegas, Nevada, and was founded in 2017. It works in the Internet Software sector.
It is perceived as one of the top rivals of Happn. It is headquartered in New Delhi, Delhi, India, and was founded in 2013. The company operates in the Internet Software field.
Happn – Future Plans
The Happn team is focussing more to find new ways to monetize and also it is willing to bring some new features which would really set it all apart from its competitors.
Happn – FAQs
Is Happn a Free Dating App?
Happn is a Freemium product. While several features are free, there are paid features as well.
Can you Message for Free on Happn?
Once two Happn users mutually like each other’s profile, they can start chatting for free.
How does Happn Make Money?
While Happn offers several features for free, Paid subscriptions and in-app Advertisements are major sources of revenue for Happn
Is Happn a Chinese App?
No, Happn is headquartered in Paris ( France). The Happn app is operational in over 40 countries.
Is Happn a popular Dating App?
Yes, Happn has over 100 Million Users. The app has an average rating of 4.3 out of 5 stars in the iOS app store.
So, that day of the year is finally around the corner when friends, families and individuals celebrate love, compassion, and relationships with their loved ones. It is not just another celebration, or simply a special day as one may think it is, but this day has quite a significance when it comes to business and economics, globally. It is a revenue-driving force in many essential sectors across the globe and this blog is a testament to what Valentine’s day promises to be – for the gifting industry and anything that connects to it.
From flowers to jewelry, and from teddies to clothing, the numbers speak a different story about the importance of Valentine’s day and its impact on economies.
So, let’s take a dive into the Valentine day facts and stats along with some eye-catching business statistics:
Valentine’s Day Sales – A Dive into the Number Game (USA)
Here’s a list of some of the major Valentine’s day consumer insights that is simply interesting to know:
$21.8 billion – yes, that is what the Americans spent on Valentine’s Day 2021.
$4.1 billion – worth of jewelry was bought by US consumers on the eve of Valentine’s Day 2021.
$164.76 per person – The average amount spent on Valentine’s Day per person in 2021.
$106.22 – The average amount spent by women on Valentine’s Day.
$291.15 – The average amount spent by men on Valentine’s Day.
As per the recent Valentines day spending statistics, this year’s (2022) Valentine’s day spending is expected to reach $23.9 billion.
Average spent by Men and Women on V-day
In the US Valentine’s Day Scene – In Depth Analysis
Americans spent $27.4 billion on Valentine’s Dayin 2020 which was a huge surge, an increase of 32.36% to be apt, the $20.7 billion spent on the same in 2019 seemed like a smaller and outdated number, thanks to the growing need to display their affection among Americans. The numbers dipped a little to $21.8 bn in 2021.
An increase in YoY increase in average spending has become a trend over time, on top of a healthy increment in the spending pattern of an average person on the verge of Valentine’s Day. The statistics show that there has been a more than 43% increase in the spending pattern from 2017 to 2020, which is quite impressive.
52% of the total expenditure was on spouses and partners, a steady 9% decrease in the expenses as compared to the previous year. This reflects a paradigm shift in the mindset of the millennials who are gradually opening up to spending on family and friends as well.
1/4th of the US bought something for their beloved pets, which makes up for a very interesting stat and a welcome figure, to top everything else. $1.7 billion was spent on buying gifts for their furry friends, an all-time high in the history of Valentine’s day.
Americans and their love for jewelry and dinner dates were evident in the numbers themselves. $5.8 billion was spent on jewelry, which remained the go-to gifting choice for 21% of the consumers. Over one-third of the Americans who celebrated the day, preferred a dine-out with their loved ones.
Red roses and candies remained the medium to express love & gratitude for Americans who spent $2.3 billion on flowers and plants that make up a healthy 37% of the total consumers. More than 50% of the total consumers bought candies too, nearing 36 million pounds of chocolate for Valentine’s Day.
Men spent more to buy things for their partners and loved ones and it comes as a no-brainer since that has for long, been the case when we consider the numbers side by side. Men spent $26.05 billion on Valentine’s, compared to $23.92 billion spent by women, an 8.90% deficit which could’ve put them on par with men had they spent more.
Valentine’s Day Predictions 2022 – Pandemic, so what?
Valentine’s Day Predictions 2022
$23.9 billion – yes, you heard it right! 3 out of 4 people involved in this day feel that celebrating this day is important. If you think that they’re just saying for the sake of it. NRF predicts that despite everything that the pandemic has spoiled in the US, over 73% of the people think that celebrations are important, courtesy – of the COVID-19 pandemic. The previous year 2021 saw the Americans spending close to $21.8 bn even amidst the pandemic woes and this year it is expected to be somewhere around $23.9 bn, making it the second-highest year on record.
$11.7 billion – the significant other/spouse will be showered with appreciation, love, and gifts. The prime purpose for the celebrations, they make up more than 50% of the total expenditure.
$5.2 billion – people in the US will spend upon family members and friends which comes as a welcoming statistic because, at the end of the day, Americans do realize that the day is to show gratitude to anyone you love or admire.
$4.8 billion – to be spent on children, classmates, teachers, pets, co-workers, and others. The numbers are significant when we compare it to the previous year, which even if low, are important because the world is recovering from the wrath of COVID-19.
$175.41 is the expected average amount to be spent by the Americans on this Valentine’s day 2022. The average amount spent by a single person in America was $164.76 in 2021.
As of now, in the US – Valentine’s Day is a $27.4 billion industry, that is promising enough to grow YoY until the COVID-19 pandemic led to the global slowdown that will be reflected this year.
In Australia, AU$377 million is spent on presents, whereas New Zealanders spend $216 million on Valentine’s week shopping.
Almost 151 million greeting cards are exchanged on the V-Day.
Red roses, which are considered as the symbol of love and remain extremely popular during Valentine’s Day – are grown and sold in large numbers. In 2019, approximately 224 million roses were sold where a dozen of them were priced around $97.22, registering a 2.5% YoY increase.
Chocolates, cards, and jewelry remain the most sought-after gifts on Valentine’s Day.
From the Indian’s Point Of View – The Growing Significance
INR 30 Crore worth of rose stems were exported from India in 2019.
E-commerce transactions are expected to stay somewhere around 20-30 Crores for V-Day.
Women spent 35% more than men, a complete opposite when compared to the US.
Roses, chocolates, and cards remain popular, in India as well.
50% Y-o-Y growth registered in the starter premium segments when it comes to gifting.
INR 5k-10k is the average amount spent by Indians on the eve of Valentine’s Day.
Valentine’s day Facts & statistics
On a final note, Valentine’s day holds a special place for consumers and people across the globe owing to the roots of love, compassion, and empathy it vibes for. However, it holds even more importance from an economic point of view since a number of industries are directly or indirectly dependent upon this day for all of their business and revenues. The gifting industry is one of the main industries largely dependent upon this day for their operations and revenues. Despite the pandemic, the V-Day market promises to grow over time, irrespective of the temporary slowdown that we are witnessing nowadays.
Over the past few years, due to the advancement of technology, smartphones, and widespread access to the internet, people have been overwhelmed with the use of such resources. With the increase of education, independence, and advancement in lifestyle both men and women have become busier. People today are uncomfortable in having large social groups or find it difficult to take time out and find people to date the old fashioned way.
Today the e-dating concept has been the new trend. People find their matches online through online dating apps. Bumble is one such dating app that helps people build a profile on the app so that you put all your relevant information on it and then all you need to do is keep liking profiles of others hoping that somebody will show the same kind of interest and you both could vibe together.
Know more about Bumble in this article, it’s beyond online dating!
Bumble is a multi-functional app that is not restricted to just dating. Launched in December 2014, Bumble has been an app that is women-centric, i.e. women have control with whom they want to talk to on the app. It has been only six years since bumble started its operations and it already has more than 36 million users.
With the most users in America, the application has been the fastest-growing application in the country. The valuation of Bumble is over $14 billion and the company has been growing rapidly.
Since Bumble is a multi-functional app, it doesn’t restrict itself to dating but it has other two verticals as well – Bumble BFF and Bumble Bizz.
It was just six years ago when the founder of Bumble, Whitney Wolfe Herd reinvented a dating app for women so that women have control over conversations with others. The company believes in empowering women to give the ability to control dates, find friends, or network online and hence they have created the app in a way where the women need to make the first move.
Her journey didn’t start with Bumble. It is the biggest competitor of Bumble in this sector that Whitney co-founded, Tinder. She had to leave the company as she had a terrible breakup with her co-founder Justin Mateen. After leaving Tinder, Whitney also filed a sexual harassment case against the company but later the suit was eventually settled. It is then when she decided to start Bumble where women have the upper hand and no one can take advantage or face problems as she did.
Bumble – Business Model
As mentioned above Bumble is a multi-functional dating app and there are three verticals: Bumble Date, Bumble Bumble BFF, and Bumble Bizz. Following are the details about how these verticals work.
Bumble Date
Bumble Date is the normal version of this dating just like any other similar genre app where people can like each other’s profiles based on their choices and preferences but the catch here is that women make the first move. However, in case of the same-sex matches, any one of the parties can make the first move.
Bumble BFF
Bumble somewhere tried to give the experience that Facebook in its dating app by including the BFF feature in the mobile app. With Bumble BFF people get the chance to talk to new people and make friends. All the user needs to do is switch to the Bumble BFF mode from Bumble Date mode. Similarly if one wants to switch to Bumble Bizz mode, they can freely do it. Also, Bumble states that over 90% of the application users try this mode and use it quite often.
Bumble Bizz
After getting a successful response of Bumble BFF mode, the company introduced another interesting vertical with the name Bumble Bizz. Forbes says that Bumble Bizz mode was a very logical step that the company took. With the help of Bumble Bizz mode, users can make a separate profile for professional swiping and networking. The other features remain the same, like the same-sex match can send greetings to one another and between a man and a woman; the first move would be made by a woman. The concept of matching professionals is a big hit in the sector.
Bumble can be free of cost but there are very limited features in it. If you opt for the additional features plan in Bumble you need to buy the premium packages and can then access a lot of additional features.
Bumble as a startup has been a success as there weren’t many challenges that the company needed to face. Initially, the company had to make its way through by challenging its biggest competitor Tinder, but Whitney already knew what was happening in Tinder and was able to see the weak points of Tinder.
Bumble also had to face a lot of criticism initially as people felt that the app is not safe and there are only fake profiles being shared on the portal. But with time people started liking the app and it has got a better response since then.
The USP of Bumble is that it is women-dominated. There is a sense of pride in using the app in which women the first move and that is what made it special. Bumble as a startup did not see major setbacks or losses, as it has remained positive and static all the time. Currently, there are more than 50,000 users added to the community on regular basis.
Having such a strong market base, the biggest competition that Bumble has is Tinder. Apart from that, there are other competitors like Grindr. Halo app, etc.
Bumble recently made a debut on Nasdaq by launching its Initial Public Offerings. This lead to Whitney Wolfe Herd became the world’s youngest self-made billionaire. The company is valued at over $7 Billion by promising to make the online dating world a better place and equal place to connect.
Even though there is a surge of daters in this industry, Bumble has a long way to go in order to engage its users, look at the long-term profitability, plan growth strategies, and constantly improving by making the user’s experience better and better.
FAQs
Is Bumble dating app free?
Yes, Bumble dating app is free but it has some restricted features which you will only get access to after you pay a small fee to get Bumble Premium.
What is the average age on Bumble?
According to a April 2020 survey data of adults in the United States, more than 13% of the users are aged between 13-29 and 10% of users are aged between 30 to 44 years.
How does Bumble decide who to show you?
Those who swipe-right on your profile appear first. Both Bumble and Tinder appear to have a similar algorithm that shows you the profiles of those who have expressed an interest before other profiles.
The most romantic day of the year is round the corner and everybody is rushing to buy the best gift for their loved ones. If you are looking for that unique gift, exploring pre-owned products are a good choice as they are budget-friendly and environment-friendly.
Quikr has analyzed what products Indian customers are falling in love with based on the search trends seen on Quikr Bazaar platform in January 2020. Check out the six most popular products that can make your V-day grand!
Most loved smartphone: iPhone
Everyone aspires to buy an iPhone but affordability is a question mark. The availability of these phones at an average price of 19K on platforms like Quikr can fulfil aspirations. By the way, 24% of India searched for pre-owned iPhones around this time. Every effort to reuse counts and we are in love with Delhities as they top Quikr’s pre-V-day search list with their interest in pre-owned iPhones, thus doing their bit towards the environment.
Most loved fitness equipment: Cycles
Want to look fit together but don’t know where to start? We say – Cycles, and that too at an average price of 6.7K! Nothing like enjoying the morning sun while riding together this Valentine’s Day!
According to Quikr data, about 21.1% of Indian consumers showed interest in cycles, out of which, Bangalore stands first for its interest. Although this could be the result of an endless traffic in the city, we believe Bangaloreans are already in love with the city’s cool weather, and cycles are just an excuse to enjoy it.
Most loved furniture: Sofa
Opting for a pre-owned sofa has more personality than you can imagine; whether it’s the story of how you got it or how you will be putting it to use. Doesn’t upgrading your living room with a pre-owned sofa for a movie night and some popcorn sound perfect? All this can happen at an average price of 13K! Quikr reveals that about 21.2% of people searched for the product with Bangalore being in the lead.
Most loved gadget: Laptop
First metros and now, non-metros. Refurbished laptops get a second chance at being loved as 15% of Indian consumers from cities across tiers have searched for it. This only means one thing – laptop love is spreading across India and that too at an average price of 22K and you don’t want to miss out on it!
Most loved accessory: Camera
Amongst the 13% of India that searched for cameras, surprisingly, Guwahati is in the lead. Their search for this product which is available at an average price of 19.9K is almost equivalent to that of a metro like Hyderabad. Given its scenic beauty and tourist attractions, a camera sure comes handy when one has to freeze this beautiful place through pictures. You can capture the soulful happiness of your loved ones too or gift it to them to capture yours.
Most loved home entertainment: Video Games
Many discounts and offers on gaming products contribute to its popularity in the country, especially in metros like Delhi and non-metros like Nagpur and Gondia in Maharashtra. Quikr says that 7% of India searched for video games that are available at an average price of 13K. Spread some love by gifting your gamer friend the best pre-owned video game in town!
Online platforms for such goods are becoming a treasure trove of personal gifts that gets appreciated in emotional value as well. By choosing the pre-owned route, you not only get a chance to reuse, but also, reduce the burden on your wallet.
Pratyusha Srivastava
