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This year's Valentine's Day spending expected to hit new highs

Feb 15, 2019 | Retail

Kevin Whitlock

Spending on Valentine’s Day (14 February) is expected to reach £853m this year, up 7.8% on 2018 figures, according to new research.

The survey by retail and shopper marketing agency Savvy found 38% of UK shoppers are planning to get involved in Valentine’s Day this year. More than 40% are expecting to spend more on Valentine’s Day than in 2018.

Although the poll found 52% of shoppers rely on supermarkets for gift ideas, there are still oopportunities for independents, c-stores and gift shops.

Consumers are also planning on spend £152m on food this year, according to the poll.

The research found that the gifts women would most like to receive are: flowers (51%), followed by chocolates (43%) and a meal out (41%).

Meanwhile, men are most hoping for: a meal out (36%) or have a home cooked meal (29%) and a card from a shop also featured high up on their list (25%).

Alastair Lockhart, insight director at Savvy, said: “Despite Brexit uncertainty and volatile consumer confidence, retailers look set for a solid start to the 2019 event calendar, with Valentine’s Day retail sales set to rise.

“In recent years we have seen how shoppers have focused their expenditure on events as they seek to make the most of time together with friends and family, but at the same time, retailers have invested more heavily in events, extending product ranges and improve the in-store experiences.”

Tags: Retail

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