Savvy’s latest research findings indicate a significant increase shopper involvement in Valentine’s Day this year. A combination of growing interest in the event and a rise in shoppers’ disposable income, leads us to estimate the value of Valentine’s Day at £657m for 2016, up from £617m last year.
The research reveals that 45 percent of shoppers plan to mark the occasion this year – compared with 38 percent in 2015. It also identified that growing interest in Valentine’s Day is being led primarily by 35 to 54 year olds.
The UK region identified as the ‘most engaged’ in Valentine’s Day is northern England with 49 percent getting involved in the event. The region least engaged was southern England with 42 percent.
With Valentine’s Day falling on a Sunday, shoppers are more likely to cook from scratch this year than eat out – a trend we are also seeing outside of retail events such as Valentine’s Day. With Sunday being traditionally a family day, we’re expecting there to be a higher likelihood of children being involved, from meal solutions through to afternoon film time or activities. It’s a great opportunity therefore for retailers to appeal – and sell to – a much broader target audience than usual.