Clothing & footwear to enjoy £80m Valentine’s Day boost

Britons are expected to spend 5% more on Valentine’s Day gifts than they did last year, giving the UK retail industry a £650 million boost, according to new research from Mintel.


Photo: Missguided

£80 million of those £650 million are expected to be sales of clothing and footwear, with fashion now outperforming traditional Valentine’s staples such as confectionery and greetings cards in terms of spending.

According to a survey of 2,000 internet users aged 16 and over, British consumers will spend £112 million on jewellery and £102 million on flowers this Valentine’s Day, and men are expected to spend more than women.

PERSONALISATION AND EXPERIENCES

With Valentine’s Day spending overtaking Easter by more than £45 million in 2017, the 14 of February is emerging as a key opportunity for retailers to capture more sales.

Consumers aged between 28 and 37 are the most active Valentine’s Day spenders, and almost 59% of consumers think retailers should offer more options to personalise gifts on Valentine’s Day.

The majority of Britons now prefer to gift experiences rather than products, and 53% think that retailers’ suggestions in the run-up to Spring Summer, including Valentine’s Day, are boring.

“Shoppers are looking for creative ideas ahead of the 14th February, especially those that go beyond the traditional assortment of lingerie, flowers and jewellery, with experiential gifts one way to make gift suggestions more appealing. These include retailers offering embroidery classes to teach people how to make Valentine’s themed decorations or chocolate making,” commented Samantha Dover, retail analyst at Mintel.

“With more demand for personalised gifts, retailers also have the chance to encourage higher value purchases by offering services such as monogramming and engraving, which have become increasingly popular. There remain plenty of opportunities for retailers to offer more in-store services, giving shoppers a personal experience as well as personalised gifts."

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