What retailers can expect this Valentine’s Day: a boom in sales and growth online…

This is an archived article - we have removed images and other assets but have left the text unchanged for your reference

Some 40% of UK shoppers are planning to celebrate Valentine’s Day this year, and 39% say that they are going to spend more than they did last year, according to New Valentine’s Day research by Savvy.

A majority (70%) of UK consumers perceive Valentine’s Day to be a special occasion, and 62% are in fact, looking forward to this special day, therefore 62% report to not mind spending more money to make it more exceptional.

The report’s analysis reveals that the estimated value for Valentine’s Day to the retail sector will reach £726m for 2017, up £39m from last year. More than a half (56%) of the UK shoppers report that they will be going online to buy gifts for their loved ones, which is an increase to 70% amongst 18-34 year-olds.

When it comes to Valentine’s Day gift preferences, women in the UK say that the most perfect present would be flowers (30%), followed by a card from a shop and a meal at the restaurant, both scoring 28% apiece. On the other hand, men in the UK admit that the way to their heart is through stomach, with 26% most hoping to receive chocolate this year, closely followed by a meal at a restaurant (24%) and then, a shop-bought card (23%).

“With consumer confidence shaky and grocery volumes stagnant, retailers will be pleased to see that shoppers plan to spend more this Valentine’s Day, giving the retail events calendar a solid start to the year,” says Alastair Lockhart, insight director at Savvy.

“While shoppers are cautious in their spending, our broader research shows they have a desire to make the most of events. At the same time, retailers across the board continue to increase their focus on calendar events. While discounters, from Aldi to B&M see events as drivers of incremental sales, the big four are using events as part of their strategies to differentiate.”

IMAGE: Stokpic at Pexels

Read More

Subscribe to our email community

Created with Sketch.
Receive the latest news
Created with Sketch.
Be the first to hear about our research
Created with Sketch.
Get VIP access to our events
DOWNLOAD OUR NEW REPORT

Warehousing 2025

The InternetRetailing Warehousing 2025 report explores this critical stage of the direct-to-consumer journey