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BizReport : Ecommerce archives : February 10, 2016

Two countries, two different spending trends for Valentine's Day

A new survey in the UK suggests that loved-up shoppers will shell out more to celebrate Valentine's Day this year than last, while things are quite different in the U.S.

by Helen Leggatt

A survey of 1,000 UK household shopping decision makers by retail and marketing agency Savvy has found an increased shopper involvement in Valentine's Day this year. The agency forecasts the value of Valentine's Day this year will reach £657m, up from £617m last year.

northsouth.pngFurthermore, 45% of shoppers plan to mark the day this year, up from 38% last year, with interest being led by those age 35 to 54.

"With Valentine's Day falling on a Sunday, shoppers are more likely to cook from scratch this year than eat out - a trend we are also seeing outside of retail events such as Valentine's Day," says Alastair Lockhart, Insight Director at Savvy. "With Sunday being traditionally a family day, we're expecting there to be a higher likelihood of children being involved, from meal solutions through to afternoon film time or activities. It's a great opportunity therefore for retailers to appeal - and sell to - a much broader target audience than usual."

amex.pngHowever, across the pond, U.S. research by American Express reveals that Americans expect to spend less this year than last - $212 compared with $296 last year.

"With Americans focused on increasing their savings goals this year, they expect to spend less for Valentine's Day," said Jed Scala, Senior Vice President, Consumer Lending at American Express. "However, consumers still plan to show their love and affection through alternative yet equally sentimental ways."

Image via Shutterstock

Tags: American Express, Savvy, shopping, trends, UK, US, valentine's day

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