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Valentine's Day retail spending in the UK 2017-2020

From fashion to luxury, food and leisure, Valentine’s Day has successfully found itself a pocket in the retail and service economy on a global scale. In the United Kingdom alone, Valentine’s Day spending is predicted to jump to 855 million British pounds by 2019, marking an increase of nearly 25 percent since 2017. In 2019, dining out was the leading gift category with the highest amount estimated to be spent on Valentine’s Day.

Men spend more than women

The spending craze Valentine’s Day triggers is arguably not as widespread as on other special occasions, such as Black Friday or Christmas shopping. However, it still invigorates the economy as well as raising budget considerations on an individual level. In the UK, of those who had a Valentine to share the day and gifts with, men planned to spend more on Valentine’s Day treats than women.

Social media as a channel for inspiration

Increasingly, social media plays a bigger role not only when it comes to purchasing, but also for looking for inspirations and ideas for gifts. Consumer surveys reveal that platforms such as Google, Facebook, and Instagram figured as possible sources of inspiration for UK consumers when they were seeking the perfect gift for their Valentine. Among the three, Google was the most popular.

Expected retail spending on Valentine's Day in the United Kingdom (UK) from 2017 to 2020

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Source

Release date

February 2020

Region

United Kingdom (Great Britain)

Survey time period

2017 to 2020

Supplementary notes

Forecasts.
Data for 2017, 2018, and 2019 were taken from previous reports published by the same source.

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