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
bm50050
 
Greg Brown is joined by BAPIA chief executive to discuss the last few months....
af500
 
Autumn Fair @ Home will be a two-day digital experience. ...
nabas500
 
National Association of Balloon Artists is highlighting the benefits of working with its members....
ppehead
 
The summer issue of Progressive Party Europe is available to read now, bringing you all the news, views and great content from right across the party and costume industry....
HP55
 
"This has been a difficult decision but we continue to put the health, safety and wellbeing of our team, customers, partners, family and friends above all other priorities."...
R55
 
Companies merge while Holly Oldham departs the business...
Get the latest news sent to your inbox
Subscribe to our daily newsletter