It is yet again that time of the year when shops fill with hearts, pink items, chocolate, cute teddy bears, champagne, heart shaped pasta - you name it! It is Valentine’s Day of course.
Brits will spend this year on average £45 per person on Valentines which has now become one of the major retail events of the year. According to national statistics residents of the northern city of Preston will spend the most, £53 per person on gifts. The tightest lovers are found in the West Midlands, with Coventry and Walsall spending just £26 on their partners, which is 50 percent less than their northern counterparts.
Valentine’s Day is bigger than Christmas for certain sectors - Britons spent £40.2m on cards for the day last year, averaging £1.86 per person, the highest spend among special occasions, the Greeting Card Association has calculated.
Tesco estimates that it sells more than one million bouquets of flowers for Valentine’s Day each year.
Also restaurants and hotels will cash in on this special weekend. Restaurants will see rise by 14 per cent and both jewellers and hotels will experience a 30 per cent rise in sales.
If you are planning a special meal, all the special places and restaurants get booked first. Restaurants located high up in skyscrapers are popular locations for Loncon love birds and if you have no booking yet it is likely that you have left it too late. All London’s Square Mile’s skyscraper restaurants are already pretty much fully booked for this Valentine’s. Some bookings had been made in September already.
When putting dinner and gifts together Londoners are the most generous lovers in the country, spending over twice as much on each other than the rest of the UK. However Londoners are also most likely to leave shopping till the last minute.
It was estimated that at least £1.6bn was spent on gifts and treats for the occasion across the UK.