Businesses lament low patronage as COVID-19 dims Valentine’s Day celebration

Business outlets are counting their losses as Nigerians dim the lights on this year’s Valentine’s Day celebration, a day set aside for lovers across the world to renew their acquaintances.

Ripples Nigeria visit to shopping malls and other retail outlets in Lagos revealed that shop owners are recording tepid sales despite adopting aggressive sales tactics, which include lowering their prices in a bid to lure shoppers.

The worst hits are stores selling cards, gift packs, perfume, flower, beauty items, and female wares.

Approximately 150 million Valentine’s Day cards exchanged hands annually, making the lovers’ day the second most popular card-sending holiday after Christmas.

Some mall operators who spoke with Ripples Nigeria expressed deep worries over the impact of the COVID-19 restrictions which has greatly reduced their sales this year’s celebration.

Others, however, expressed optimism that things would improve as the Valentine’s Day approaches.

“Usually, all my stock is booked well in advance before Valentine’s Day. But this year I have not secured a single booking, since last year, Nigerians seem to have held on to a frugal habit no thanks to COVID-19 pandemic,” said Ademola Kunle, a shopkeeper.

“Business is really bad this year. Nigerians seem uninterested, even though the prices of most of our items did not go up because we still have old stocks. We just increased the price of our cards slightly from N150 to N200 and a flower which was N350 now costs N390.”

Even with an over 17 discounts on some selected items, Samuel Nwachukwu, another shop owner at a shopping mall in the Ikotun area of the state, said consumers are still not forthcoming.

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“We have more promos on wristwatches, just a slash in price because customers are now thinking smart. They are buying more wristwatches because they claimed it lasts longer than perfumes,” Nwachukwu added.

“For Valentine’s promo, we reduced the price of our Givenchy perfumes because they are old stock. The one that was sold for N25,000 is now N20,000. Givenchy for men was N23,500 but now costs N20,275 and Givenchy for women, which was N26,000 is N21,400 presently.

“Still, no customer is coming close to the perfume section. They just walk in to buy food items or toiletries.”

At other Malls and Flora shops in Lagos Island, Ikotun, Oshodi, Ejigbo and Ikeja, shop owners share similar stories.

A survey conducted by our correspondent showed that the prices of imported perfumes had shot up by about 25 percent.

At Mega Plaza, a bottle of Gucci perfume that sold for N36,000 in December now sells for N45, 000. Also, the Giorgio Beverly Hills perfume which sold for N12,000 around November now goes for N15, 000.

Jumai Alabi, a flower shopkeeper in CMS, told Ripples Nigeria that she dropped some of her inventories to as low as N1, 500.

According to her, some of these items normally sell for between N2, 500 and N4, 000 depending on the customers’ bargaining power.

“This time last year, I sold so many flowers with cards but this year is terrible. I have not sold any this year and I cannot discount my flowers like I usually do during Valentine’s because of the dollar,” she said sadly.

A clothes retailer, Victoria said her price drop is due to the low interest shown for expensive red dresses, which for her is unusual especially on Valentine’s Day.

But Naomi James expressed optimism that things would improve before the weekend.

She said: “Business hasn’t been great but hopefully by Friday or Saturday, even on Sunday, serious customers should start showing up. The price of our items increased slightly, the perfumes we sell for N10, 000 now go for N12, 000 because of the dollar problem. We will have discounts on some items for Valentine; this should attract more customers and increase our sales as well.”

At least 85 percent of consumers who spoke with Ripples Nigeria are indifferent about the Valentine celebration.

While some said they have low-key plans, others said the celebration is the least of their worries.

A resident in Ikotun area of Lagos, who simply gave his name as Chinedu said: “I’m not doing any Valentine’s shopping because I have more critical things to spend money on with the limited cash at my disposal.”

“Currently, I have needs that must be met and Valentine’s is definitely not one of them. COVID-19 has really impacted on my finance,” another respondent, Cynthia, declared emphatically.

Tayo, who lives in the Surulere area of Lagos, said: “My budget focuses on important things, especially now the price of everything is increasing and my salary is not. Valentine’s spending is a waste of resources.”

With prices of food items skyrocketing amid a dwindling income, mall operators can only hope that consumers will take advantage of their promotional offers to enjoy a memorable time with their loved ones as Valentine’s Day inches closer.

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