Valentine’s Day has overtaken Easter as the biggest spending retail event in the first half of the year in many parts of the world. Valentine’s Day ranges have broadened to include both premium and personalised gift options, as consumer’s increase their demand for quality gifts. If you are looking for creative ideas ahead of the 14 February visit this site, especially if you want to go beyond the traditional gifts of lingerie, flowers and chocolates. The demand for more personalised gifts has led to higher value purchases and a marked increase in shopping online. Here we look at the love in numbers across the globe:
In 2018, Asia’s biggest Valentine’s Day spenders were people who live on Mainland China (USD274), followed by Taiwan (USD245) and Hong Kong (USD231), with Singapore fourth at USD180 and Thailand completing the top five at USD145. In 2018 The amount Chinese couples spent fell slightly, partly due to the date clash with Chinese New Year on 16 February, whereas in 2017 the date was at the end of January.
Valentine’s Day spending has increased in Europe by 19 per cent since 2015. A meal out remains popular, but with no increase in spends. Money spent on flowers has increased by 29 per cent. In the UK men spend GPB40 on gifts, twice as much as women, with confectionery gifts in the UK rising by 18 per cent, whilst jewellery, lingerie and flowers continue to be popular.
Spending on flowers in the Middle East has increased by a huge 96 per cent versus 2015 figures, making it the fastest growing trend in Valentine’s Day gifts in the region. Meanwhile, the spend on hotels has remained stable at 41 per cent of the share of spends for the day. People in this region mostly plan the gifts in advance, with online shopping an increasing trend across all ages.
The US saw a doubling in the number of e-commerce transactions for Valentine’s Day gifts. US consumers spend an average USD143 on gifts the second highest level since records began 15 years ago, 2016 was slightly higher. Jewellery is the most popular gift, accounting for USD4.7 billion of the total USD19.6bn spend, followed by an evening out and flowers. Experience gifts, such as tickets to a concert or sporting event are most popular for younger people aged 25-34 years.