Though consumers believe Valentine’s Day has become too commercial, it has been estimated that Britain will spend £980m this February which is a £15m increase on 2015.
According to research conducted by Verdict Retail, Britain has not stopped spending despite more than half of consumers feeling that Valentine’s Day is a waste of money. Last year saw £313m being spent on food and drink, £518m spent on gifts, and £135m spent on seasonal non-food items such as cards and wrap.
Greg Bromley, Retail Analyst. “Not only are partners and spouses going to benefit this year from the uptick in consumer confidence, with increased spending on Valentine’s Day but retailers are benefitting from it too as occasions such as these are a significant opportunity to boost sales”
