This Valentine's Day infographic gives insight into just how much is spent on love every year in Europe.
Although there is no doubt Valentine's Day does provoke a fair amount of authentic romance, it also provides a significant consumer event for stores to cash in on. Valentine's Day is as much a consumer holiday as it is a relationship holiday. It is a day created to honor romance and love on the surface, but driven by shopping in reality.
The average British man spends around $30, while women usually spend $25. It's telling that men usually spend more than women. Traditionally, it is assumed the man will foot most of the bill on a night out for Valentine's Day.
In total 986 million Euros is spent on Valentine's Day gifts a year in the UK.
Why This Trend Is Growing
- Valentine's Day Spending
- Valentine's Day spending has become a significant consumer event that retailers can create unique experiences and promotions for.
- Gender-specific Retail Marketing
- Gender-specific retail marketing can provide an individual experience for consumers.
- Romantic Experiences
- Creating unique, romantic experiences for couples can drive sales during Valentine's Day.
Industries Being Reshaped
- Retail
- Retailers can provide unique experiences and promotions to cash in on Valentine's Day.
- Hospitality
- Hospitality businesses can drive sales by creating romantic experiences for couples during Valentine's Day.
- Consumer Goods
- Consumer goods businesses can capitalize on Valentine's Day spending by promoting their products as romantic gifts.
