Brits predicted to spend £650 million this Valentine’s Day

British couples spent nearly £130 million on Valentine’s Day dinners in 2017, and are expected to cough up even more this year, according to new figures.

The latest findings from market research firm Mintel show that Brits spent around £128 million on food and drink consumed at home to mark 14 February last year.

Overall sales in the romantic season reached £620 million in 2017, compared to £575 million spent in Easter.

Sales of Valentine’s Day gifts are predicted to rise by 5%, totalling £650 million in 2018.

The market research firm said that the ongoing ‘premiumisation’ of the off-trade food and drinks industry were a key factor in the rise in February spending.

Samantha Dover, Retail Analyst at Mintel, said: “Valentine’s Day is now the biggest spending retail event in the first half of the year, overtaking Easter by a significant amount. This year we expect shoppers to trade up as retailers continue to increase their Valentine’s Day ranges with both premium and personalised gift options, and tapping into consumer demand for quality gifts.”

The news comes as premiumisation continues to drive spending the UK’s drinks industry. A recent report published by Kantar Worldpanel revealed that sales of alcohol in supermarkets rose by almost £172 million thanks to an increasingly diverse premium market.

“Supermarkets’ buyers are looking closely at trends that appear in on-trade outlets,” Fraser Mckevit, Kantar’s head of retail and consumer insight, said.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

Marketing Executive

Harviestoun Brewery
London, UK

Customer Services

Felix Solis Avantis UK Ltd
Canterbury, UK

Digital Sales & Marketing Executive

Roberson Wine
London, UK

Brand Marketing Manager

Maverick Drinks
London, UK

PR and Communications Manager

Maverick Drinks
London, UK

Various Sales Roles

Amathus Drinks Plc
Bristol, Cardiff, Cornwall, Devon, Leeds and Birmingham

Assistant Buyer

Liberty Wines
London, UK

Partner Development Manager

Maverick Drinks
Tunbridge Wells, UK

Partner Manager - Wholesale

Maverick Drinks
Tunbridge Wells, UK

db Awards 2018

London,UK
22nd May 2018

The City Wine & Spirits Show

London,United Kingdom
12th Oct 2018
Click to view more

The Global Malbec Masters 2017

the drinks business is proud to announce the inaugural Global Malbec Masters 2017

The Global Sparkling Masters 2017

the drinks business is thrilled to announce the launch of The Global Sparkling Masters.

Click to view more