Valentine’s Day to contribute GBP1.6 billion to UK retail this year

Sensible customers to spend on ‘sensible’ gifts and a night in this Valentine’s Day

Valentine’s Day will contribute GBP1.6 billion to UK retail this year, a modest growth of 2.4% on last year, forecasts Planet Retail. Consumers will splash out on traditional gifts like lingerie, chocolate, champagne and flowers while saving money by dining in.

“Valentine’s Day is only just beginning to be promoted as a shopping event, with retailers wanting to drive footfall after a lacklustre January,” says Planet Retail Analyst Petah Marian.

The battle for the Valentine’s Day pound will be waged among the big grocery retailers, with each of them offering dine-in meal offers, flowers, chocolate and alcohol promotions.

Discount retailers will benefit from their broad ranges of novelty gifts, as consumers seek ways of expressing their affection in less expensive ways. In a similar vein, dine-in meals will remain popular, with customers preferring to splash out on one gift, rather than going for the full flower, jewellery, champagne and dinner experience.

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For further information please contact:

Renaye Edwards, Senior Marketing Executive
Tel: +44 (0) 20 7728 4985, E-mail: renaye.edwards@planetretail.net

Petah Marian, Retail Analyst
Tel: +49 (0) 20 7728 4951, E-mail: petah.marian@planetretail.net

About Planet Retail:

Planet Retail is the leading provider of intelligence on the global retail industry, monitoring more than 7,000 retail banner operations as well as market developments in 211 countries. With over 15 years of industry insight, Planet Retail is a brand trusted by more than 3,000 organisations worldwide, delivering up-to-the-minute news, analysis, market research and digital media via www.planetretail.net. Planet Retail has offices in London, Frankfurt and Tokyo.