This ad will be closed automatically in X seconds.

UK set to spend over £1bn on Valentine’s Day 2020

UK consumers are predicted to spend over £1bn on Valentine’s Day this year, according to retail analyists at GlobalData.

The Valentine’s Day gifting market is the largest category for this occasion, but is forecast to perform poorly with just 0.6% growth in 2020. Many retailers are hoping to combat this by targeting an alternative audience such as friends and family, with a particular focus on female friendships thanks to the introduction of ‘Galentine’s Day’, on 13 February.

“Retailers in the UK are trying to open up Valentine’s Day to a wider audience,” commented Zoe Mills, retail analyst at GlobalData. “Retailers should also include self-gifting in their marketing campaigns for Valentine’s Day to appeal to more individuals while still targeting the traditional audience with gifts for him/her.”

“Consumers with partners can feel obliged to participate in Valentine’s Day but those that wish to do this in a cost-effective way will turn to more affordable solutions,” Zoe continued.

This is good news for retailers offering something a bit different for this year – such as the Candy Hearts range from Creative Party pictured above, which is ideal for merchandising with solid colour tableware in luscious lavender and candy pink.

MORE NEWS
Copy of Progressive Preschool featured image (19)
 
Progressive Party looks at the importance of licensing in the sector and what the latest trends are....
Copy of Progressive Preschool featured image (18)
 
Spring Fair 2025 is on track to sell out at its 75th anniversary edition. ...
Copy of Progressive Preschool featured image (17)
 
Rubies has been recognised at Walmart's Sustainability Milestone Meeting as one of 10 vendors working towards more sustainable practices....
Copy of Progressive Preschool featured image (16)
 
Essex-based balloon shop, Heartfelt Balloons, has relocated to a new premises in Hadleigh....
Copy of Progressive Preschool featured image (15)
 
Customers can now shop from over 700 Party City stores across the US on Instacart for same-day delivery in as fast as an hour....
Copy of Progressive Preschool featured image (3)
 
Research by Vypr has shown that the cost-of-living crisis is affecting how UK consumers plan to celebrate Halloween this year. ...
Get the latest news sent to your inbox
Subscribe to our daily newsletter