Romance isn’t dead! Brits set to splash out on romantic gifts and meals for Valentine’s Day
LONDON, 13th February 2019 – Romance isn’t dead for Brits, with Worldpay data revealing that Valentine’s Day spending has grown 13 percent1 since 2017. If 2018 is anything to go by, this year could see restaurants and beauty retailers 20 percent and 15 percent busier as Brits will splash out on romantic meals and beauty gifts for loved ones.
Since 2017, greetings card sales have increased by almost 20 percent, with UK shoppers set to spend over £8m2 on cards in the week leading up to the 14th. Flowers remain the preferred way to say ‘I love you’ with amorous Brits spending an average of £50.563 at online florists.
A good old fashioned trip to the cinema may also be popular with romancers this year. On Valentine’s Day, cinemas could see almost double the amount of custom with 2018 figures showing a 94 percent increase in bookings on the 14th. Restaurants could also look forward to an uplift, with analysis showing a 33 percent increase in dining out on Valentine’s Day last year.
Steve Newton, Executive Vice President, UK and Europe at Worldpay said: “In today’s digital world, it’s nice to see that old fashioned romance isn’t dead. In fact, our analysis has shown the opposite: over the past two years Valentine’s Day has become increasingly popular for Brits, with cards, flowers and confectionary sales all booming in the lead up to the 14th. Businesses need to be prepared for a potential uplift in sales, and consider how to maximize the impact of the special day. Valentine’s Day may be the one day of the year set aside for romance, but for a business, it could be a way to begin a special relationship with new customers.
1 Analysis of card transactions processed by Worldpay in the UK between 01/02/2017 – 17/02/2017 vs 01/02/2018 – 17/02/2018 across arts and leisure, retail (clothing & footwear, department stores, florists, pharmacy and beauty, electronics) and hospitality sectors
2 Analysis of card transactions processed by Worldpay in the UK within the card and gift retail sector between: 07/02/17 – 13/02/17 vs 07/02/18 – 13/02/18.
3 Analysis of card transactions average transaction value processed by Worldpay in the UK at online florist merchants between period: 07/02/17 – 14/02/17.
Notes to editors:
About the data:
All figures quoted taken from analysis of card transactions processed by Worldpay in the UK between 01/02/2017 – 17/02/2017 and 01/02/2018 – 17/02/2018 across arts and leisure, retail (clothing & footwear, department stores, florists, pharmacy and beauty, electronics) and hospitality sectors. Predictions made based on 2018 figures.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B.
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