Valentine’s Spending up £200,000 Compared to 2016 – How Can British Businesses Benefit?
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Valentine’s Spending up £200,000 Compared to 2016 – How Can British Businesses Benefit?

Valentine’s Day 2018 is set to be even more profitable for British retailers, florists, restaurants, and hotels. In 2017, we spent £1.5 billion nationally on cards, gifts, and trips to celebrate – £200,000 more than 2016.

41% of us will buy a Valentine’s gift or card for someone this year, and 49% of us consider ourselves to be pretty romantic too, with 18-34 year olds showing older generations how it’s done (53% of them like to woo and be wooed).

In terms of buying thoughtful cards, the most generous regions are Scotland (59%) and Northern Ireland (56%). Regardless, they don’t consider themselves to be particularly romantic compared to other regions – 43% of Scots and 45% of people in Northern Ireland. 56% of people in the West Midlands think they’re particularly romantic, higher than the national average.

Average spend per person is £29.98, but men are bigger spenders than women, buying gifts worth £39.70 on average. Women spend nearly half that on their significant other – £20.42. Despite their comparative generosity, men actually spend 68% more on the run up to Mother’s Day than they do on Valentine’s Day. Asda collated some stats and found they sell twice as many bunches of flowers, 60% more cards, and 23% more boxes of chocolates.

When 2000 members of the public were quizzed on their plans for Valentine’s Day 2017, 38% said they planned to spend their money on experiences rather than physical gifts, such as spa treatments, days out and romantic meals. German flower company Bloomy Days compared the prices of a bunch of roses, a spa treatment, dinner in a Michelin-star restaurant, and a night in a 5-star hotel, to find out how much it costs for a couple to escape for a romantic weekend.

Los Angeles came out as the most expensive trip, costing £1,081. The cheapest was a Prague in the Czech Republic, costing just £377. For those staying in the UK, Belfast is the cheapest city, adding up to £464. Understandably, London is the most expensive (a considerable £653), but a trip to Paris is over £100 cheaper.

 With nearly half the population feeling loved up, and most willing to spend money to prove it, Valentine’s Day 2018 is going to be particularly profitable for many British businesses. If you want your hotel, restaurant, or florists to be prepared to make the most of Valentine’s Day next year, Get A Quote You could renovate your hotel rooms, improve your range of stock, or update your restaurant’s furnishings.