For fragrance manufacturers, Valentine's Day, alongside Christmas, is one of the most lucrative times of the year with many companies reporting that the majority of the year's income is generated through these sales.
Chocolates and perfume are traditional Valentines Day gifts for a woman, however, this year many cosmetic manufacturers, such as Clinique and Urban Decay, have decided to capitalise on the profitable period and with ideas designed to challenge fragrances dominant position.
Urban Decay has created a lip range that promotes 'Juicy Lips for Valentine's Day', consisting of a lip liner, lip-gloss and lip plumper plus an eyeshadow primer.
However, Clinique, owned by Estee Lauder, seems to be ahead of the crowd with the launch of innovative gift sets for the female consumer, which incorporate both a fragrance, and skin care products.
The company is also diversifying into the male grooming market, retailing Valentine's Day gift sets for men, including its well known 'Happy' range, whilst also launching a specific skin care set aimed at hydrating the skin - currently a hot trend in the male skin care industry.
Likewise, many manufacturers are casting a wider net over potential customers and are creating beauty products aimed at female consumers who are likely to buy products specifically created for the day.
UK retailer Superdrug is actively promoting mass-market brand cosmetic products that have a pink theme representing Valentines Day, such as Barry M nail varnish in hot pink and Gosh lip colours in baby pink.
Likewise, on the premium end of the market, beauty retailer Sephora has dedicated an entire section of its website to beauty products aimed at the female Valentines Day consumer.
Leading premium cosmetic brand Benefit has created an overall face powder called 'Hopelessly devoted to pink', while Too Faced has designed a make up pallet that consists of eye shadows and bronzing powders, called 'Little Pink Book'.
Finally, many manufacturers are continuing to rely on the lucrative fragrance sales with Issey Miyake and Cacherel both launching Valentines Day gift boxes this month that contain a selection of mini fragrances from their present perfume ranges.